Govt to buy back INR 250 bln worth of five FY26 gilts via auction Thu
This story was originally published at 18:41 IST on 3 January 2025
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--RBI: Govt to buy back INR 250 bln worth of 5 gilts on Thu
--RBI: Govt to buy back 7.72%, 2025 gilt at auction Thu
--RBI: Govt to buy back 5.22%, 2025 gilt at auction Thu
--RBI: Govt to buy back 8.20%, 2025 gilt at auction Thu
--RBI: Govt to buy back 5.15%, 2025 gilt at auction Thu
--RBI: Govt to buy back 7.59%, 2026 gilt at auction Thu
NEW DELHI – The government will buy back INR 250 billion worth of five gilts maturing in 2025-26 (Apr-Mar) through an auction at 1030-1130 IST Thursday, the Reserve Bank of India said in a release Friday.
The government will buy back the 7.72%, 2025 bond; the 5.22%, 2025 bond; the 8.20%, 2025 bond; the 5.15%, 2025 bond; and the 7.59%, 2026 bond at the auction. There was no notified amount for individual securities within the total in the release.
This would be the first buyback auction since Oct. 17, when the government bought back INR 249.34 billion worth of the same five gilts maturing in FY26, against the notified amount of INR 250 billion. So far in FY25, the government has bought back INR 796.35 billion worth of gilts.
The government's Oct-Mar borrowing calendar said it would carry out switching and buyback of securities to smoothen the redemption profile. In the Union Budget for FY25, presented in July, the government increased the drawdown from its cash balance to INR 1.40 trillion from INR 35.49 billion in the Interim Budget.
The auction will be conducted through the RBI's Core Banking Solution (E-Kuber) system at 1030-1130 IST. The RBI said the government can decide on the amounts for individual securities, accept more or less than the notified amount of INR 250 billion, and accept or reject any of the offers wholly or partially without assigning any reason. End
Reported by Shubham Rana
Edited by Rajeev Pai
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