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Business & Finance

India central bank to buy 400bn rupees worth securities on June 17

  • The central bank had said it will buy 1 trillion rupees worth securities between April and June to help markets absorb the government's massive 12.06 trillion rupees in borrowing.
10 Jun 2021

MUMBAI: India's central bank will buy securities worth a total 400 billion Indian rupees ($5.47 billion) under the third trance of its government securities acquisition programme (GSAP 1.0) including 100 billion rupees worth of state development loans, it said on Thursday.

The central bank had said it will buy 1 trillion rupees worth securities between April and June to help markets absorb the government's massive 12.06 trillion rupees in borrowing.

This month it has further announced another 1.2 trillion rupees worth of purchases under GSAP 2.0 for the September quarter.

The RBI has offered to buy 20 state development loans maturing in 2030 or 2031 for an aggregate 100 billion rupees.