RBI announces buyback of ₹25,000 crore worth G-Securities through auction on THIS date; check details here

The RBI has also announced the auction of Treasury Bills amounting to 19,000 crore across time duration of 91 days, 182 and 364 days.

MintGenie Team
Updated12 Oct 2024, 11:28 PM IST
The offers for the auction needs to be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system
The offers for the auction needs to be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system

The Government of India has announced the buyback of its securities through auction for an aggregate amount of 25,000 crore (face value), announced Reserve Bank of India (RBI) on Friday. The G-securities with coupon rate of 7.72 percent will mature on May 25 next year. The securities with coupon rate of 5.22 percent will mature on June 15 next year.

The securities with coupon rate of 8.2 percent will mature in Sept next year and the securities with coupon rate of 5.15 percent will mature on Nov 9 whereas the securities with coupon of 7.59 percent will mature on Jan 11, 2026.

Also Read | What is RBI retail direct app and how can investors use it to buy bonds?

The table below lists out the maturity date of all these securities that will be auctioned on Thursday.
 

Security       Maturity
7.72% GS 2025            May 25, 2025
5.22% GS 2025   June 15, 2025
8.20% GS 2025    Sept 24, 2025
5.15% GS 2025    Nov 09, 2025
7.59% GS 2026     Jan 11, 2026

In a notification, Reserve Bank of India has announced that the auction will be carried out using multiple price method. The offers for the auction needs to be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on Oct 17, 2024 between 10.30 am and 11.30 am. Auction result will be announced on the same day and settlement will take place on Oct 18, reads the notification.

However, it is vital to note that the government reserves the right to decide on the quantum of buyback of individual securities, accept more or less than the notified amount of 25,000 crore and accept or reject any or all of the offers, either wholly or partially, without assigning any reason thereof.

Meanwhile, Reserve Bank of India has also announced the auction of Government of India Treasury Bills (T-Bills) as per the following details:

Treasury-Bills

Days       Amount ( crore)
91 Days          7,000  
 182 Days            6,000
 364 Days     6,000
 Total              19,000  

The auction date for the above T-Bill is Oct 16 and the settlement date is Oct 17.

Investors who want to invest in government securities can invest via RBI Retail Direct portal or app. You need to open RBI Retail Direct Account. And once you are registered, you can log in to your account in order to invest in government securities, also known as G-Secs. Read this Livemint article for more details.

 

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First Published:12 Oct 2024, 11:28 PM IST
Business NewsMoneyPersonal FinanceRBI announces buyback of ₹25,000 crore worth G-Securities through auction on THIS date; check details here

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