Govt to buy back 5 FY26 gilts worth INR 200 bln via auction on Thu
This story was originally published at 19:06 IST on 20 January 2025
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--RBI: Govt to buy back INR 200 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%, 2025 gilt at auction Thu
MUMBAI – The government will buy back five gilts worth INR 200 billion on Thursday. The buyback auction of the five gilts, all maturing in 2025-26 (Apr-Mar), will be held at 1030-1130 IST, the Reserve Bank of India said on Monday.
The gilts up for buyback are 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. There is no notified amount for each of the individual securities up for buyback.
This will be the third buyback auction this month. On Thursday, the RBI bought back INR 98.92 billion of the same five gilts that it has put up for auction this week, while it bought back INR 192.18 billion of the same five bonds on Jan. 9. So far in FY25, the government has bought back gilts worth INR 1.09 trillion, including those maturing in the current financial year.
The government's Oct-Mar borrowing calendar said it would carry out switches and buybacks of securities to smoothen the redemption profile. Buyback auctions also infuse liquidity in the banking system, which has had to contend with a widening deficit in recent weeks.
The buyback auction will be conducted through the RBI's Core Banking Solution (E-Kuber) system. The RBI said the government can decide on the amounts for individual securities, accept more or less than the notified amount of INR 200 billion, and accept or reject any of the offers wholly or partially without assigning any reason. End
Reported by Vidhushi RajPurohit
Edited by Saji George Titus
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