As part of liability management operations of Government of India’s sovereign debt, a switch operation of GoI securities has been conducted on June 12, 2017 with a scheduled commercial bank. Securities having face value of about Rs. 17,000 crore maturing in 2017-18 have been switched to longer tenor securities maturing in 2024-25 and 2029-30 at FIMMDA/ Market prices.
It may be recalled that the Union Budget 2017-18 has provided Rs. 1,00,000 crore for buyback and switch operations.
Ref: RBI's PR # 2016-2017/3349 dated Jun 12, 2017