Gilts Buyback
Govt to buy back INR 300 bln worth of five FY26 gilts via auction Thu
This story was originally published at 16:27 IST on 11 January 2025
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--RBI: Govt to buy back INR 300 bln worth of 5 gilts on Thu
--RBI: Govt to buy back 7.59%, 2026 gilt at auction Thu
--RBI: Govt to buy back 5.15%, 2025 gilt at auction Thu
--RBI: Govt to buy back 8.20%, 2025 gilt at auction Thu
--RBI: Govt to buy back 5.22%, 2025 gilt at auction Thu
--RBI: Govt to buy back 7.72%, 2025 gilt at auction Thu
MUMBAI – The government will buy back INR 300 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 Saturday.
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 will be the second buyback auction of this month. At an auction on Thursday, RBI brought back the same five gilts worth INR 192.18 billion. So far in FY25, the government has bought back INR 988.53 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. Moreover, buyback auctions also infuse liquidity in the banking system, as banks hold a significant amount of government securities.
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 amount for individual securities, accept more or less than the notified amount of INR 300 billion, and accept or reject any of the offers wholly or partially without assigning any reason. End
Reported by Vidhushi RajPurohit
Edited by Akul Nishant Akhoury
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