Home / Finance / News / G-SAP: Second tranche of bond buying worth Rs 35k cr on May 20, says RBI

G-SAP: Second tranche of bond buying worth Rs 35k cr on May 20, says RBI

The RBI had said on May 5 that it will buy Rs 35,000 crore bonds from the market, including the benchmark 10-year bonds

Crony capitalism has built up slowly in India, emerging as a Frankenstein’s monster a decade and a half after politicians began to unchain the private sector in the early 1990s

premium

There is no security wise limit, the RBI said

1 min read Last Updated : May 13 2021 | 1:13 AM IST

The Reserve Bank of India (RBI) on Wednesday said it would buy securities maturing between 2024 and 2035 in its second tranche of G-SAP programme.

The purchase will happen on May 20.

The RBI had said on May 5 that it will buy Rs 35,000 crore bonds from the market, including the benchmark 10-year bonds, under the Government Securities Acquisition Programme (G-SAP) to soften yields.

There is no security wise limit, the RBI said.

Separately, the RBI said it will convert/switch Rs 20,000 crore of short-term securities, maturing between 2022 and 2023) into long term securities maturing between 2035 and 2061.

Topics : RBI Securities Bond markets