On review of the Government of India (GoI)’s cash position and funding requirement, it has been decided to cancel the deferred auction scheduled on January 17, 2014 amounting `15,000 crore. This would result in decrease in Government market borrowing programme for 2013-14 to that extent.

The Union Budget 2013-14 has provided `50,000 crore for buyback/ switching. In this regard, securities from 2014-15 and 2015-16 maturity buckets for face value of about `27,000 crore have been successfully switched to longer tenor security with an institutional investor last week.

Sucheta Vazkar
Manager

Press Release : 2013-2014/1572