Business Standard

Govt to prematurel­y redeem ~30k cr of papers


The government will be prematurel­y redeeming ~30,000 crore of three bonds maturing between January and April 22, the Reserve Bank of India (RBI) said in a notificati­on. The government would be using its surplus cash balances to buy these papers, the central bank said. It is not uncommon for the government to prematurel­y buy papers to lessen the bunched-up payment obligation at the time of maturity, but the operation is ad hoc in nature. In the period between January and April 22, ~1.55 lakh crore of debt is scheduled to mature, including the amount scheduled to be bought back. The repurchase will happen in the secondary market on Wednesday between 2 pm and 3 pm.

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