RBI to buy, sell GSecs worth Rs 25,000 crore

MUMBAI: The Government of India (GoI) has announced an auction to switch its securities maturing in April, May, June and December this year to longer dated notes due in November 2024 and October 2029 with an aggregate amount of Rs 25,000 crore. In a press release on its website, RBI said that Rs 20,000 crore of bonds will be exchanged for the 6.45 per cent security maturing on October 7, 2029, while Rs 5,000 crore of securities will be exchanged for the 6.18 per cent security maturing on November 4, 2024. The auction will be conducted on January 20 with settlement the next day. Separately, the RBI said it will simultaneously sell-short term bonds maturing in April and May 2021, and purchase longer-tenure bonds maturing in January 2024 and October 2029 through a so-called open market operations.