In view of the cash balance situation, the Centre has decided to cancel the auction of G-Sec which was scheduled to have been held on March 26.

As per the revised issuance calendar for ‘Government of India Dated Securities’, the next auction was scheduled to have been held on March 26.

“On review of position of cash balance, the Government of India has decided to cancel the above scheduled auction,” the Reserve Bank of India said on Monday.

The auction was expected to have fetched Rs 20,000 crore from the G-sec auction.

Traditionally, G-Secs are issued through auctions conducted by the RBI.

These auctions are conducted on the electronic platform called the ‘E-Kuber, the Core Banking Solution’ (CBS) platform of RBI.

The RBI conducts these auctions usually on every Wednesday.

–IANS

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