RBI buys back Rs 10,512.9 crores of Indian Government bonds

10 May 2024 , 11:39 AM

On May 9, the Reserve Bank of India (RBI) conducted a buyback of government securities amounting to ₹10,512.993 Crore, significantly lower than the notified amount of ₹40,000 Crore. The RBI’s announcement on May 3 stated that the Central government would repurchase ₹40,000 Crore worth of government securities on May 9, 2024.

The securities eligible for buyback included the 6.18% GS 2024, 9.15% GS 2024, and 6.89% GS 2025, with maturity dates on November 4, November 14, and January 16 respectively. Out of the three securities, the RBI only repurchased the 6.18% GS 2024 and 9.15% GS 2024, while no bids were accepted for the 6.89% GS 2025.

The RBI received 47 offers totaling ₹28,464.954 Crore for the 6.18% GS 2024 securities but only accepted 10 offers worth ₹437.053 Crore at a cut-off price of ₹99.59.

Additionally, it received 20 offers amounting to ₹17,384.552 Crore for the 9.15% GS 2024. The central bank accepted four offers worth ₹10,075.940 Crore at a cut-off price of ₹101.02. Despite receiving 23 offers worth ₹7,484.473 Crore for the 6.89% GS 2025, the RBI did not accept any bids. 

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