Reserve Bank of India removes 6.84pc 2022 bond from list of open market buy

MUMBAI: The Reserve Bank of India on Tuesday removed 6.84 percent 2022 bonds from the list of government securities that it had announced to buy in an open market operation on May 17.

In an unusual move the RBI had announced to buy the 2022 paper which it had selected for a government bond sale on May 11, which traders thought was a signal to support the government's sovereign borrowing programme.

The RBI will now buy four securities, which are 8.12 percent 2020, 7.72 percent 2025, 6.79 percent 2027 and 8.24 percent 2033, instead of the previous list of five securities that included the 2022 paper.