Government of India has been undertaking conversion or switch operations with market participants as well as with the Reserve Bank with the objective of smoothening the liability profile as well as for market development. As a part of these operations, Government has today done a conversion transaction with the Reserve Bank for an amount of ₹35,142.399 crore (Face Value). The transaction involved buying back securities maturing in FY 2023-24 from the Reserve Bank and issuing fresh securities for equivalent market value, to make the transaction cash neutral. The transactions were carried out using Financial Benchmarks India Pvt Ltd. (FBIL) prices as on January 8, 2021. The details are as below:

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/925