Mumbai, Aug. 28 -- The Reserve Bank of India (RBI) on Friday announced the buyback of government securities worth Rs 30,000 crore on September 3.
The auction will take place on September 3, between 10:30 AM and 11:30 AM on the RBI Core Banking Solution (E-Kuber), the RBI said in a notification.
The government will buy back securities such as 7.33 per cent GS 2026, 5.74 per cent GS 2026, 8.15 per cent GS 2026, and 8.24 per cent GS 2027, the notification said. The RBI has not notified any amount for the individual securities within the aggregate ceiling of Rs 30,000 crore.
Auction for securities will be conducted using multiple price methods, the RBI said.
This comes at a time when the liquidity in the banking system is in huge surplus and the central bank has been conducting variable rate reverse repo (VRRR) auctions to remove excess surplus liquidity from the system.
Published by HT Digital Content Services with permission from Millennium Post.