Reserve Bank announces Rs 35,000 crore G-sec Acquisition Programme

RBI announced the second tranche of Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 1.0)

The RBI on Wednesday announced the second tranche of Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 1.0).

As announced in the RBI Governor's statement of May 5, the second tranche of G-sec purchase will involve buying back securities of Rs 35,000 crore.

The Reserve Bank will purchase the Government securities maturing between November to March 2035. These securities bear coupon rate ranging from 5.85 per cent to 7.17 per cent.

The securities will be bought through a multi-security auction using the multiple price method.

The Reserve Bank has reserved the right to decide on the quantum of purchase of individual securities as well as accept bids for less than the aggregate amount.

The apex bank will either purchase marginally higher/lower than the aggregate amount due to rounding-off. It will also accept or reject any or all the bids either wholly or partially without assigning any reasons.

--IANS

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