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Date : Jan 11, 2021
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 ₹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:

Security bought back by the Government from RBI Amount (Face Value)
(₹ in crore)
FBIL Price of the security bought back by Govt
(₹)
Security issued by the Government to RBI Amount (Face Value)
(₹ in crore)
FBIL Price of the security issued by Govt
(₹)
6.30% GS 2023 290.000 104.55 6.57% GS 2033 294.221 103.05
7.37% GS 2023 4,205.000 106.88 6.57% GS 2033 4361.284 103.05
6.17% GS 2023 2,000.000 104.48 6.57% GS 2033 2027.753 103.05
8.83% GS 2023 14,357.779 111.94 6.57% GS 2033 15596.407 103.05
7.32% GS 2024 14,289.620 108.27 6.22% GS 2035 15516.369 99.71

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/925


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