Feb 18, 2016 09:57 AM IST | Source: PTI

Govt to buyback Rs 18,990-cr G-Secs on February 22

In a statement, the Finance Ministry announced repurchase of "1.44 percent Inflation Indexed Government Stock-2023 through reverse auction for an aggregate amount of Rs 3,990.72 crore (face value)".

Govt to buyback Rs 18,990-cr G-Secs on February 22

The government said it will buyback securities, including inflation indexed bonds, worth Rs 18,990 crore on February 22, a move which will infuse liquidity into the markets.

In a statement, the Finance Ministry announced repurchase of "1.44 percent Inflation Indexed Government Stock-2023 through reverse auction for an aggregate amount of Rs 3,990.72 crore (face value)".

In another statement, the government said it will further repurchase securities of 2016 series through reverse auction for an aggregate amount of Rs 15,000 crore (face value).

The repurchase of the GSec would be undertaken to redeem prematurely the Government Stocks by utilising surplus cash balances, finance ministry said.

Auction for securities will be on price based auction format. It will be conducted using multiple price method.

Bids for the auction should be submitted in electronic format on the RBI's core banking solution (E-Kuber) system on February 22, 2016, between 1030-1200 hours. The result of the auctions will be announced on the same day.

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