![RBI 1](https://img.etimg.com/thumb/msid-83226567,width-210,height-158,imgsize-118318,resizemode-75/rbi-1.jpg)
Related
The central bank said it would also purchase bonds worth Rs 40,000 crore, including state development loans worth Rs 10,000 crore, under the ongoing GSAP 1.0 through an auction on June 17. The move will take RBI’s acquisition of government bonds under the plan to Rs 65,000 crore.
RBI Governor Shaktikanta Das said he hopes the market would respond appropriately to its latest announcement.
GSAP is basically an unconditional and unstructured purchase of government bonds by the central bank from the market players. The measure was introduced by the central bank after its April monetary policy meeting in an effort to keep bond yields lower, which had surged in the run-up to the meeting amid inflation fears.
On the inflation front, RBI continued to maintain its stance of looking through the short-term spikes as it forecasted a consumer price index-based inflation of 5.1 per cent for 2021-22, which will be higher than its target of 4 per cent but within policy range of 2-6 per cent.
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price