RBI’s first purchase under G-SAP 1.0 set for April 15
The Hindu
Eyes securities worth ₹25,000 crore
A day after announcing the introduction of the G-sec Acquisition Programme (G-SAP 1.0), the Reserve Bank of India (RBI) on Thursday announced the Open Market Purchase of Government of India Securities under the programme . “The Reserve Bank will conduct open market purchase of government securities of ₹1 lakh crore under the G-sec Acquisition Programme (G-SAP 1.0) in Q1 2021-22 with a view to enabling a stable and orderly evolution of the yield curve. The first purchase of government securities for an aggregate amount of ₹25,000 crore under G-SAP 1.0 will be conducted on April 15, 2021,” the RBI said in a circular. The central bank Accordingly, the Reserve Bank will purchase five types of government securities via a multi-security auction using multiple price methods. The dates of maturity vary from November 2, 2023 to and March 16, 2035. The RBI has reserved the right to decide on the quantum of purchase of individual securities and accept bids for less than the aggregate amount, it said.More Related News
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