G-SAP: Third tranche of bond buying worth ₹40,000 crore on June 17, says RBI
Of this, state development loans (SDLs) would be purchased up to ₹10,000 crore, RBI addedEligible participants can submit their bids in electronic format on the RBI Core Banking Solution (E-Kuber) system between 10 am and 11 am on June 17
The Reserve Bank of India (RBI) on Thursday said the third tranche of open market purchase of government securities worth ₹40,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) will be conducted on June 17.
Of this, state development loans (SDLs) would be purchased up to ₹10,000 crore, the RBI said in a statement.
"...Reserve Bank will conduct the third tranche of open market purchase of government securities of ₹40,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) on June 17, 2021. Of this, state development loans (SDLs) would be purchased up to ₹10,000 crore," the RBI said in a statement.
The central bank of India said that eligible participants can submit their bids in electronic format on the RBI Core Banking Solution (E-Kuber) system between 10 am and 11 am on June 17.
"The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on June 18, 2021," RBI added.
After the Monetary Policy Committee meeting in April, Governor Shaktikanta Das had announced that the RBI would conduct open market purchases of government securities of ₹1 lakh crore under the G-SAP 1.0 in first quarter of the financial year 2021-22.
The first such auction of ₹25,000 crore was held on April 15. While the second tranche of open market purchase of government securities was conducted on May 20.
G-SAP will run alongside RBI's regular operations including Liquidity Adjustment Facility (LAF), open market operations (OMOs) and Operation Twist.
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