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Monday, March 23, 2015

Government announces G-sec market borrowing at Rs 3.60 trillion for April-Sept 2015

Market borrowing in April-Sept 2015 similar to actual borrowing in April-Sept 2014 

The Reserve Bank of India (RBI), in consultation with the Government of India, has released an indicative calendar for issuance of government dated securities for the first half of 2015-16. The RBI has planned the market borrowing for the central government at Rs 3.60 trillion for April-September 2015, which is matching to actual market borrowing in April-September 2014. 

The market borrowing program kicks from the second week of April 2015. The borrowing spans over 24 weeks in the tranches of Rs 14000-16000 crore per week. 

In the initial weeks, the weekly market borrowing is placed at Rs 16000 crore, which reduced to Rs 15000 crore per week from mid-June 2015 and Rs 14000 crore from mid-July 2015. The market borrowing calendar indicates at issuance of 10-14 years securities at 43% of the total borrowing, while 15-19 years and above 20 years securities accounts for 20% each of the total borrowing program. However, the securities with 5-9 years maturities have a share of 18% in total borrowing program for April-September 2015.
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