First purchase under G-SAP 2.0 on July 8: RBI

First purchase under G-SAP 2.0 on July 8: RBI

MUMBAI: The Reserve Bank on Monday said the first purchase of government securities for an aggregate amount of Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) will be conducted on July 8.

On June 4, RBI Governor Shaktikanta Das had announced that the central bank will conduct open market purchase of government securities of Rs 1.2 lakh crore under the G-SAP 2.0 in the second quarter of 2021-22 to support the market.

On Thursday (July 8), the RBI will purchase five government securities of different maturities through a multi-security auction using the multiple price method.

The RBI said it reserves the right to decide on the quantum of purchase of individual securities, and purchase marginally higher/lower than the aggregate amount due to rounding-off.

The result of the auctions will be announced on the same day, it added.

The next purchase under G-SAP 2.0 will be conducted on July 22 for Rs 20,000 crore.

The RBI had conducted open market purchase of government securities of Rs 1 lakh crore under the G-SAP 1.0 in first quarter of the financial year 2021-22.

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