RBI Rs 30k cr switch gets low response


Mumbai: There weren't many interested in the RBI move on Monday to switch to having a shorter residual maturity with those with longer and medium terms. Compared to the Rs 30 billion that was being offered, gilts were being offered for a value of approximately Rs 9,200 million and the exchange accepted around Rs 7,550 million, or about 25% of the total amount of the offer, they indicated the central bank data.

Bond market participants also noted that the fact that the bond offering generated by maturity expired on June 9, that is, in less than a month from the date of the change, meant that the exercise was in actually another name.

On Monday, the government, through the RBI, offered to withdraw the gilts maturing on June 9 and at the same time offered girders Rs 26 billion rupees, equally divided among those maturing in 2024. and 2030 and other Rs worth Rs 4 billion. of gilts that expire in 2060.

In the two previous changes in late 2019, the RBI had offered to remove mature sows for several years, and not just the same year.

The RBI database showed that on June 9, the bonds worth Rs 52.868 crore are ready for maturity.