- The Government of India has done a conversion switch transaction of its securities with the Reserve Bank of India (RBI) for an amount of 1,19,701 crores (face value).
- The transaction involved buying back securities that are being matured in FY 2022-23, FY 2023-24 and FY 2024-25 from the RBI and also issuing fresh securities for equivalent market value, to make the transaction cash neutral.
- The transactions were carried out using Financial Benchmarks India Private Limited (FBIL) prices as of January 28, 2022.