RBI repurchases government securities for a total of Rs 10,512.993 crore

The securities with maturities of November 4, November 14, and January 16 are 6.18 percent GS 2024, 9.15 percent GS 2024, and 6.89 percent GS 2025 that are being bought back, according to the central bank.

Money

By Sneha Sengupta On May 9, 2024

On May 9, the Reserve Bank of India (RBI) repurchased government securities for a total of Rs 10,512.993 crore, a significant decrease from the Rs 40,000 crore that had been announced.

The Reserve Bank of India (RBI) declared on May 3 that the Central government would repurchase government securities valued at Rs 40,000 crore on May 9, 2024.

The RBI only repurchased two of the three securities: 6.18 percent and 9.15 percent of GS 2024.

Ten proposals totaling Rs 437.053 crore at a cut-off price of Rs 99.59 were approved by the central bank out of 47 offers totaling Rs 28,464.954 crore for 6.18 percent GS 2024 securities.

As per a press release, RBI did not accept any offers for 6.89 percent GS 2025.

Additionally, it received 20 offers on 9.15 percent GS 2024 worth Rs. 17,384.552 crore. Four offers totaling Rs 10,075.940 crore were approved by the central bank at a cut-off price of Rs 101.02.

In addition, the RBI received 23 bids totaling Rs 7,484.473 crore for the 6.89 percent GS 2025; however, no bids were accepted.

The benchmark 10-year bond’s yield closed the day at 7.1322 percent.

RBI