India provides 20 bln rupees as premium interest payment for bond buyback in 2013/14

Last Updated: Fri, Mar 01, 2013 12:10 hrs

NEW DELHI, March 1 (Reuters) - India government has provided 20 billion rupees ($364.3 million) as premium towards interest payments for bond buybacks in 2013/14 fiscal year starting April and the buyback will be cash and fiscal deficit neutral, a government statement said on Friday.

The statement confirmed that the auction calendar will be for 5.79 trillion rupees.

The government is redeeming some of the bonds ahead of their maturity to ease repayment pressure from 2015/16 to 2017/18 fiscal years as part of "active debt management", the government said. (Reporting by Suvashree Dey Choudhury and Manoj Kumar; Editing by Anand Basu)

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