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RBI proposes to buy back government securities

RBI proposes to buy back government securities
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First Published: Mon, Dec 06 2010. 08 59 PM IST
Updated: Mon, Dec 06 2010. 08 59 PM IST
Mumbai: The Reserve Bank of India (RBI) on Monday said it would buy back government securities up to Rs12,000 crore from the secondary market keeping in view the “current assessment of prevailing and evolving liquidity conditions.”
The four securities that RBI proposes to buy back are maturing between 6-12 years, including the existing 10-year bond. The buyback will happen on Thursday, on the eve of the fresh auction that RBI cut to Rs6,000 crore from its scheduled Rs11,000 crore.
Last time RBI did such buyback was on 4 November when it offered to buy Rs12,000 crore from the market. It managed to buy Rs8,352 crore from the market.
Anup Roy
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First Published: Mon, Dec 06 2010. 08 59 PM IST