GIFT a SubscriptionGift
HamberMenu
  1. Cricket
  2. Data
  3. Health
  4. Opinion
  5. SEARCH Icon
  1. Cricket
  2. Data
  3. Health
  4. Opinion
  5. SEARCH Icon

To enjoy additional benefits

GIFT a SubscriptionGift
ShowcaseCrossword+

CONNECT WITH US

year
Click here for our in-depth coverage of Lok Sabha and Assembly elections #ElectionsWithTheHindu

Govt. does switch operation of ₹1,19,701 crore

The government has been undertaking conversion or switch operations with the objective of smoothening the liability profile as well as for market development.

January 31, 2022 09:55 am | Updated 09:55 am IST - Mumbai

Special Correspondent
“The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY 2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value,” the RBI said in a statement.

“The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY 2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value,” the RBI said in a statement.

The Government of India to smoothen its liability profile has done a conversion transaction with the Reserve Bank of India (RBI) on January 28, 2022 for an amount of ₹1,19,701 crore (face value).

“The transaction involved buying back securities maturing in FY 2022-23, FY 2023-24 and FY 2024-25 from the Reserve Bank and issuing fresh securities for equivalent market value, to make the transaction cash neutral,” the RBI said in a statement.

The transactions were carried out using Financial Benchmarks India Pvt. Ltd. (FBIL) prices as on January 28, 2022, it added.

The Government of India has been undertaking conversion or switch operations with market participants as well as with the RBI with the objective of smoothening the liability profile as well as for market development. This is part of these operations.

Related Topics

economy, business and finance / central bank

Top News Today

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.