The Reserve Bank of India (RBI) on May 27 said it will conduct buy back of government securities worth Rs 40,000 crore on May 30.
The auction for the buyback of securities will held between 10:30 AM and 11:30 AM. The result of the auction will be announced on the same day and settlement will take place on May 31, the RBI said in a release.
“Auction for securities will be conducted using multiple price method,” release said.
The central bank has offered 7.35 percent 2024, 8.40 percent 2024, FRB 2024, and 9.15 percent 2024, securities for the buy back.
Prior to this, the central bank conducted three buyback auctions, but got muted responses from the bidders, expect in the first auction.
The first auction RBI conducted was on May 9 worth Rs 40,000 crore, in which it got offers worth Rs 53,333.979 crore. Of this, the RBI accepted only Rs 10,512.993 crore.
The RBI conducted second and third auction on May 16 and May 21, of Rs 60,000 crore each. But it got muted responses and accepted only Rs 2,069.999 crore and Rs 5,266.041 crore, respectively.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
