Conversion/Switch of Government of India (GoI)’s Securities


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 ? 41,920.230 crore (Face Value). The transaction involved buying back securities maturing in FY 2020-21 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 10, 2020. The details are as below:

Security bought back by the Government from RBI Amount (Face Value)
(? in crore)
FBIL Price
(?)
Security issued by the Government to RBI Amount (Face Value)
(? in crore)
FBIL Price
(?)
7.80% GS 2020 18,834.070 100.74 8.26% GS 2027 17,602.228 107.79
8.27% GS 2020 6,816.945 101.14 8.26% GS 2027 6,396.380 107.79
6.65% GS 2020 480.881 100.33 7.61% GS 2030 463.510 104.09
8.12% GS 2020 15,788.334 102.36 7.61% GS 2030 15,525.928 104.09

Rupambara
Director   

Press Release: 2019-2020/1683

Source: RBI


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