Budgetary provisions done, no more G-sec switch in FY22: RBI

Market participants say this means comfortable cash position govt's which is also reflected in cancellation of bond auction twice in this month

The Reserve Bank of India will not be conducting any more conversion of government securities in the current financial year as the budgetary provision for switches has been completed, the central bank said on Thursday.

“On a review, as the budgetary provision of switches for the current year has been completed, it has been decided, in consultation with the Government of India, not to conduct the switch auctions scheduled to be held in February and March 2022,” RBI said in a statement,

As per the issuance calendar for marketable dated securities, auction for switches of government securities is scheduled on