India, March 9 -- The Government of India has repurchased government securities (G-Secs) worth Rs 6,309 crore through a switch auction conducted by the Reserve Bank of India (RBI). In exchange, new bonds worth Rs 6,431.797 crore were issued, according to an official release.
Government securities, commonly known as G-Secs, are low-risk debt instruments issued by the government that offer fixed returns and carry a sovereign guarantee.
The securities bought back were part of scheduled bond maturities due in the next financial year, with the switch operation aimed at managing the government's debt profile more efficiently.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....