Buyback of Government of India Dated Securities
Distilled Policy Brief
- The Government of India announced a buyback of its dated securities through an auction for an aggregate amount of ₹30,000 crore.
- The auction utilizes the multiple price method and is conducted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
🎯 Prelims High-Yield Examination Points
Government of India dated securities buyback auctions are conducted electronically through the RBI's E-Kuber system using the multiple price method.
⚖️ Mains Analytical & Syllabus Linkages
Analyze the implications of government securities buyback operations on fiscal management, government debt consolidation, and liquidity management in the economy.
🎯 UPSC Prelims Practice Drill
With reference to the recent buyback of Government of India Dated Securities, consider the following statements: 1. The buyback auction is conducted electronically on the Reserve Bank of India's Core Banking Solution (E-Kuber) system. 2. The auction for the securities strictly follows a uniform price method rather than a multiple price method. Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Statement 1 is correct because the offers for the Government of India dated securities buyback auction are required to be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Statement 2 is incorrect because the auction utilizes the multiple price method, not the uniform price method.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.