RBI to hold buyback auction of 3 G-Secs
Reserve Bank of India
said on Friday.
This is the third buyback announcement in this financial year. The buyback auction of three government bonds-yielding 7.27%, 5.63% and 6.99%-all maturing in April 2026 will be held on July 17. Buybacks are a way for the government to pay off debt for next fiscal year to reduce its gross borrowing and manage fiscal deficit, according to bank treasury officials.
by Taboola
by Taboola
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It also results in RBI infusing durable liquidity in the system. The previous two buyback auctions conducted in June had seen strong demand. The total notified amount was ₹51,000 crore, of which the RBI had accepted bids worth ₹49,600 crore across two auctions.
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