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RBI stepped up G-Sec buys in past 2 weeks SECTIONS Share Synopsis The central bank net purchased Rs 34,175 crore of sovereign papers between April 22 and May 4 from the secondary market to ensure lower borrowing costs amid concerns that the second Covid wave would derail the nascent economic recovery. Market experts believe that this could well be a record for a two-week period. Reuters The G-Secs Acquisition Programme (GSAP) and open-market operations (OMO) are the central bank’s rate-influencing tools. The Reserve Bank of India (RBI) has stepped up sovereign bond purchases in the past two...

G-Secs: In Monday’s auction, RBI gets tepid response to conversion May 17, 2021 Banks don’t seem too enthused to trade-in short-dated Government Securities Banks don’t seem too enthused to trade-in short-dated Government Securities (G-Secs/GS) they hold in their investment book for longer-dated G-Secs, going by the results of Monday’s switch/ conversion auction of G-Secs. The short-dated G-Secs, maturing between 2022 and 2024, carry relatively higher coupon rate vis-a-vis the longer-dated G-Secs, maturing between 2033 and 2061, they were to be converted into. Of the 10 G-Secs, aggr...

May 05, 2021 Shaktikanta Das, Governor, RBI (File photo)   -  PAUL NORONHA× Second auction of G-Secs for ₹35,000 cr under G-SAP 1.0 to be held on May 20 The Government Securities (G-Secs) prices rose on Wednesday as the Reserve Bank of India (RBI) decided to increase the quantum of the G-Secs it will purchase at the second auction, under the G-Sec Acquisition Programme (G-SAP 1.0), to ₹35,000 crore as against ₹25,000 crore, it purchased during the first auction. “The second auction of the G-Secs for an aggregate amount of ₹35,000 crore under G-SAP 1.0 will be conducted on May 20...

Rupee's fortunes depend on RBI's intent to prevent further weakness: Economists SECTIONS Last Updated: Apr 23, 2021, 05:07 PM IST Share Synopsis The rupee has already lost 2.6% against the dollar so far this month, putting it on the cusp of marking its worst month, since the pandemic hit the country early last year. A fortnightly Reuters poll showed bearish bets on the rupee climbed to their highest since last April, as the surge in infections has halted what had been seen as a promising growth story in the region. Related MUMBAI: The Indian rupee's near-term fortunes may directly be influenc...

RBI faces key auction as traders balk at yields SECTIONS Last Updated: Apr 22, 2021, 07:13 AM IST Share Synopsis Underwriters were forced to rescue a five-year bond sale on April 9 and the RBI canceled an offering altogether on April 16. The Reserve Bank of India’s explicit assurance to buy 1 trillion rupees ($13 billion) of bonds this quarter has failed to encourage more purchases by traders. Related NSE By Subhadip Sircar Barely weeks into India’s new borrowing program, the nation’s sovereign bond traders and the central bank are shaping up for a third bruising battle. The Reserve Ban...