RBI

The auction will feature two tranches: the first is a Rs 20,000 crore issuance of "7.1 per cent Government Security 2034", and the second is a Rs 12,000 crore issuance of "7.46 per cent Government Security 2073".

For the fiscal year 2023-24, the economy is poised to grow at nearly 8 percent, driven by robust performances in the manufacturing and infrastructure sectors.

In the first segment, the offering includes the '7.37 per cent Government Security 2028,' set at a notified amount of Rs 12,000 crore, utilizing a price-based auction employing the multiple price method. Meanwhile, the second category comprises the 'New Government Security 2064,' totaling Rs 12,000 crore (nominal), to be auctioned through a yield-based approach, also using the multiple price method.

According to the directive, every regulated entity, including banks and housing finance firms, must furnish a KFS to prospective borrowers prior to finalizing the loan agreement. These statements will adhere to a standardized format provided by the RBI and will be presented in simple language comprehensible to the borrowers. It is crucial that the contents of the KFS are explained to the borrower, and their understanding is acknowledged.

This marks the seventh consecutive week witnessing a notable increase in the overall reserves. In the previous week ending March 29, the forex reserves had escalated by $2.95 billion, following a cumulative rise of $26.5 billion over the preceding five weeks.

The bond offerings encompass a diverse range, catering to various investment preferences. Among them are the 7.32 per cent Government Security 2030, with a notified amount of Rs 11,000 crore, slated for a price-based auction utilizing the price method. Additionally, the New Government Security 2039, valued at Rs 10,000 crore, will undergo a yield-based auction employing the multiple price method. Lastly, the 7.30 per cent Government Security 2053, with an amount of Rs 9,000 crore, will be available through a price-based auction utilizing the multiple price method.

The surge in the forex kitty amounted to $2.95 billion for the week, marking the sixth consecutive week of growth following a notable increase of $26.5 billion over the preceding five weeks.