Government announces buyback of inflation indexed bonds worth Rs 6,500 crore

NEW DELHI: The government has announced buyback of inflation indexed bonds worth Rs 6,500 crore.

"The government of India has announced repurchase of '1.44 % Inflation Indexed Government Stock-2023' through reverse auction for an aggregate amount of Rs 6,500 crore (face value)," a finance ministry statement said on February 5.

The repurchase by the government is being undertaken to redeem the stocks prematurely by utilising surplus cash balances.

The repurchase of the government stocks is purely ad hoc in nature, it said.