Why in news ?
Reserve Bank of India (RBI), while reviewing market conditions and market borrowing program of government, has decided that benchmark securities of 2-year tenor, 3-year tenor, 5-year tenor, 10-year tenor & 14-year tenor and Floating Rate Bonds (FRBs) will be issued using uniform price auction method. However, for benchmark securities of 30-year and 40-year, auction will continue to be multiple price-based auction.
G-sec is a tradable instrument which is issued by Central Government or State Governments. It acknowledges Government’s debt obligation. G-Secs are of two types:
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