The Reserve Bank of India (RBI), under its Government Securities Acquisition Programme 2.0 (GSAP-2.0), plans to buy ₹1.2 trillion worth of outstanding government securities (G-secs) during July-September 2021. Under GSAP 1.0, RBI has already purchased ₹1 trillion worth of outstanding G-secs in the April-June quarter. GSAP aims to narrow the gap between the short-term and long-term risk-free rates of interest in the economy, thus enabling the government to borrow from the market at a reasonable cost and making its expanded borrowing programme sustainable.
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