India cenbank to buy $5.47bln worth securities on June 17

The RBI has offered to buy 20 state development loans maturing in 2030 or 2031

  
A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. Image used for illustrative purpose.

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. Image used for illustrative purpose.

REUTERS/Altaf Hussain

MUMBAI - India's central bank will buy securities worth a total 400 billion Indian rupees ($5.47 billion) under the third trance of its government securities acquisition programme (GSAP 1.0) including 100 billion rupees worth of state development loans, it said on Thursday.

The central bank had said it will buy 1 trillion rupees worth securities between April and June to help markets absorb the government's massive 12.06 trillion rupees in borrowing.

This month it has further announced another 1.2 trillion rupees worth of purchases under GSAP 2.0 for the September quarter.

The RBI has offered to buy 20 state development loans maturing in 2030 or 2031 for an aggregate 100 billion rupees. For details of the loans, please see: shorturl.at/qvJW5

Below are the bonds the RBI has offered to buy back at auction. Sr. No: Bond Date of Maturity 1 6.97% 2026 06-Sep-2026 2 6.79% 2027 15-May-2027 3 7.17% 2028 08-Jan-2028 4 7.59% 2029 20-Mar-2029 5 5.85% 2030 01-Dec-2030 6 6.64% 2035 16-Jun-2035

($1 = 73.0760 Indian rupees)

(Reporting by Swati Bhat; editing by Jason Neely) ((swati.bhat@thomsonreuters.com; twitter.com/swatibhat22; +91-22-68414381; Reuters Messaging: swati.bhat.thomsonreuters.com@reuters.net))

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