The Reserve Bank on Thursday said the first purchase of government securities worth Rs 25,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) will be done on April 15 with a view to enabling a stable and orderly evolution of the yield curve.
After the Monetary Policy Committee meeting on Wednesday, Governor Shaktikanta Das announced that the RBI will conduct open market purchase of government securities (G-secs) of Rs 1 lakh crore under the G-SAP 1.0 in the first quarter of this financial year.
“The first purchase of government securities for an aggregate amount of Rs 25,000 crore under G-SAP 1.0 will be conducted on April 15, 2021,“ the central bank said in a statement.
On April 15, the RBI will purchase five government securities of different maturities amounting to Rs 25,000 crore. There will be no security-wise notified amount.
On Wednesday, the RBI had said it will put in place a secondary market government securities acquisition programme or G-SAP 1.0 for this fiscal to enable an orderly evolution of the yield curve.