RBI buyback government securities worth Rs 2,069.99 crore

On May 10, the central bank said it would buy back Rs 60,000 crore worth of government securities on May 16.

RBI buyback government securities worth Rs 2,069.99 crore

The Reserve Bank of India (RBI) has bought back government securities worth Rs 2,069.999 crore that is sharply lower than the notified amount of Rs 60,000 crore.

On May 10, the central bank said it would buy back Rs 60,000 crore worth of government securities on May 16.

As per the central bank, the securities offered for buyback were 6.18 percent GS 2024, 9.15 percent GS 2024 and 6.89 percent GS 2025, maturing on November 4, November 14, and January 16.

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It had received 24 offers worth Rs 26,877.161 crore for 6.18 percent GS securities but accepted only six worth Rs 552.999 crore at a cut-off price of Rs 99.61.

Meanwhile, it had also got 12 offers worth Rs 6,479.791 crore on 9.15 percent GS and accepted two worth Rs 1,513 crore at cut-off price of Rs 100.98.

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Alongside, the same has also received 27 offers worth Rs 7,238.497 crore on the 6.89 percent GS 2025 but accepted only one bid worth Rs 4 crore at cut-off price of Rs 99.86.

On May 9, in the first buy back auction, the central bank bought back government securities worth Rs 10,512.993 crore, which was sharply lower than the notified amount of Rs 40,000 crore.

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