Day after monetary policy: RBI's G-SAP programme drives down yields

This is because while HTM stock can't be sold in OMOs, that may not be the case with G-SAP: Experts

The 10-year bond yield dropped to 6.03 per cent on Thursday, the lowest since Budget Day, responding to the Reserve Bank of India’s (RBI’s) commitment to buy at least Rs 1 trillion of bonds from the secondary market in the June quarter.
 
In its own version of quantitative easing (QE), the central bank introduced a G-sec Acquisition Programme (G-SAP) in the policy, committing upfront how much it would buy every quarter. The bond market expects the RBI to run a G-SAP programme of at least Rs 3.5-4 trillion in the full fiscal year. The impact on the RBI balance