First purchase of government securities worth Rs 20,000 crore under G-SAP 2.0 on July 8: RBI
The Reserve Bank of India (RBI) has said that the first purchase of government securities for an aggregate amount of Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) will be conducted on July 8, 2021. The RBI will purchase five government securities of different maturities through a multi-security auction using the multiple price method.
The RBI said it reserves the right to decide on the quantum of purchase of individual securities, and purchase marginally higher/lower than the aggregate amount due to rounding-off. The result of the auctions will be announced on the same day. The next purchase under G-SAP 2.0 will be conducted on July 22 for Rs 20,000 crore.
The RBI had conducted open market purchase of government securities of Rs 1 lakh crore under the G-SAP 1.0 in first quarter of the financial year 2021-22. On June 4, RBI Governor Shaktikanta Das had announced that the central bank will conduct open market purchase of government securities of Rs 1.2 lakh crore under the G-SAP 2.0 in the second quarter of 2021-22 to support the market.
