The auction will take place between 10:30 AM to 11:30 AM. The result of the auction will be announced on the same day, and the settlement will be on March 4, RBI said in a release.
This is the third switch auction announced by the RBI this month. While Rs. This operation is expected to ease redemption pressure in FY27 when government bonds worth 5.47 lakh crore are due to mature.
In a switch auction, the government replaces near-term maturing bonds with longer-term instruments.
In the latest exercise, all securities maturing in FY27 are being replaced with bonds maturing after FY32, RBI data showed.
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With gross market borrowings already budgeted at Rs 17.2 lakh crore, the move helps to simplify the maturity profile and manage repayment obligations more effectively.
Earlier, RBI conducted two switch auctions and Rs. 84,804 crore worth of securities were purchased, RBI data showed.
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