RBI had announced G-SAP 2.0 programme of Rs 1.2 lakh crore for the second quarter of the current fiscalThe Reserve Bank of India (RBI) on Thursday, July 15, announcedthat it will conduct the secondtranche of open market purchase of government securities (G-Secs)valued at 20,000 crore under the Government Securities Acquisition Programme (G-SAP 2.0) on July 22, 2021.The central bank conducted thefirst purchase (first tranche) ofgovernment securities for an aggregate amount of Rs 20,000 crore under G-SAP 2.0 on July 8, 2021.In its bi-monthly Monetary Policy Committee (MPC) statement ledby RBI Governor Shaktikanata Das on June 4, the central bank hadannouncedG-SAP 2.0 programme ofRs1.2 lakh crore for the second quarter of the current fiscal year 2021-22.
(Also Read:RBI Announces G-SAP 2.0 Of 1.2 Lakh Crore For 2nd Quarter Of Current Fiscal )As part of theprogram, the RBI commitsupfront to a specific amount of open market purchases of government securities to ensurea stableevolution of the yield curve and maintaincomfortable liquidity conditions.On June 4, Shaktikanta Das announced that during the current year so far, the RBIhas undertaken regular open market operations or OMOs and injected additional liquidity to the tune of Rs36,545 crore, up to May 31, which is in addition to Rs60,000 crore under theG-SAP 1.0 scheme.In its first bi-monthly monetary policy committee meeting for fiscal 2021-22 held in April, the central bankhad first announced the secondary market G-SAP 1.0 scheme.Also Read:RBI's Third Tranche Open Market Buy Of Government Securities On June 17As part of G-SAP 1.0, the RBI purchased Rs25,000 crore worth G-Secs on April 15 under the first tranche and Rs35,000 crore worth securitiesunder the second one.
The third tranche of G-SAP 1.0 valued at Rs 40,000 crore was conducted on June 17, resulting in the RBI completing its target of Rs 1lakh crore announced for the first quarter of fiscal 2021-22.