Thursday, June 17, 2021
News

RBI to conduct third open market purchases G-SAP on June 17

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Friday, 2021 5:15:05 AM IST
The Reserve Bank of India will conduct the third tranche of open market purchase of government securities worth Rs 40,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) on June 17.

The Reserve Bank will purchase government securities and state development loans (SDLs) through a multi-security auction using the multiple price method.

Under the tranche, up to Rs 10,000 crore of SDLs will be purchased.

"The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on June 18, 2021."

The programme's third tranche was announced in Governor's statement of June 4, 2021.

KS Legal & Associates Managing Partner Sonam Chandwani said: "The RBI announced the 'G-SAP 1.0' to manage the yield curve and it is important to note that G-SAP would be run alongside RBI's regular operations including 'LAF, OMOs and Operation Twist'. With a view to enabling a stable and orderly evolution of the yield curve, the RBI is likely to commit upfront purchases of government securities."

"In addition to this, to ensure liquidity conditions move in accordance with RBI's cautionary stance in monetary policies, the apex bank will continue to deploy operations under 'LAF, reverse repo auctions, forex operations and OMOs'."

--IANS rv/sn/vd

( 225 Words)

2021-06-10-23:06:03 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
TKM introduces 'door delivery' of auto p...
Adani Total up 921%, Adani Enterprises u...
J&K Bank to raise Rs 150 crore by issuin...
Growth of Indian consumer credit market ...
Disclosures to be mandatory for debt sec...
German battery market up 35% last year d...
More...
 
INDIA WORLD ASIA
CBSE to submit Class 12 assessment formu...
Bengal Guv meets Central ministers, Trin...
Cong deliberating on new in-charge, stat...
Himachal Police seize leopard skin, one ...
BJP K'taka chief rules out leadership ch...
Chirag Paswan appoints Raju Tiwari as Bi...
More...    
 
 Top Stories
Alaya gets her first Covid jab: 'Wa... 
TKM introduces 'door delivery' of a... 
Wild elephant rescued from well in ... 
Delhi reports 212 new Covid cases, ... 
Egyptian FM calls on new Israeli go... 
German battery market up 35% last y... 
Jubin Nautiyal, Meet Bros, Manoj Mu... 
India's Test reserves lost chance t...