RBI changes tenor of G-secs worth Rs 37,300 cr

Reserve Bank said it has converted G-secs worth Rs 37,300 crore maturing in 2016-17 and 2021-2022 to longer tenor debt instruments.

"The Reserve Bank, in consultation with the Government of India, has converted two securities from its portfolio maturing in 2016-17 and one security maturing in 2021-22 having total face value of about Rs 37,300 crore to longer tenor securities maturing in 2023-24 and 2024-25," RBI said in a notification.

The transaction has been conducted on March 2 at the Fixed Income Money Market and Derivatives Association of India (FIMMDA) market prices, it added.