The Reserve Bank of India (RBI) on Thursday said it had converted two securities maturing in 2016-17 and one security maturing in 2021-22 having total face value of about Rs 37,300 crore from its own portfolio with longer tenor securities maturing in 2023-24 and 2024-25 with the government. This was part of RBI's plan to "switch" securities and address fragmented securities outstanding and ease the pressure on the exchequer by prolonging the maturity of existing securities, as envisaged last year.
In March 2015, RBI had switched more than Rs 30,000 crore of bonds from its own account to longer maturity 2026-27 bonds with the government.
