Mumbai (Maharashtra) [India], June 10 (ANI): The Reserve Bank of India (RBI) said on Thursday it will conduct third tranche of open market purchase of government securities and state development loans under G-sec Acquisition Programme (G-SAP 1.0).
The central bank will purchase government securities of Rs 40,000 crore on June 17. Of this, state development loans will be purchased up to Rs 10,000 crore, it said in a statement.
The result of auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon the next day.
Under the second tranche, the RBI purchased Rs 35,000 crore under the G-SAP 1.0 on May 20 and purchased Rs 25,000 crore under first tranche on April 15.
With the third tranche, the RBI will complete the Rs one lakh crore target announced for G-SAP in Q1. (ANI)