The securities repurchased by the government were part of the scheduled bonds set to mature in the next financial year.
These included ₹1,684 crore of 7.33 per cent GS 2026, ₹1,035 crore of 5.74% GS 2026, ₹590 crore of 8.15 % GS 2026, and ₹3,000 crore of 8.24% GS 2027, the release said.
In exchange, the government issued ₹1,719.236 crore of 6.57 % GS 2033, ₹986.526 crore of 7.62% GS 2039, ₹605.609 crore of 6.57 % GS 2033, and ₹3,120.426 crore of 7.40% GS 2062, the release added.
2 March 2026
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This is the fourth switch auction by the RBI since February.
In a bond switch, the government replaces bonds maturing in the near-term with long-term instruments.
The switch operation is expected to ease redemption pressure in the next financial year, when government bond maturities worth ₹5.47 lakh crore are due.
With gross market borrowing already budgeted at ₹17.2 lakh crore, the move helps in smoothening the maturity profile and managing the repayment obligations more effectively.
Prior to this, RBI had conducted three switch auctions and bought back securities worth ₹98,591.701 crore, RBI data showed.
