RBI's Indian government securities holdings hit a record 12.78% in March, up from 10.55% in December, amid aggressive debt purchases.

• RBI bought 2.45 trillion rupees via OMOs and 388 billion in secondary markets in Q1.
• Analysts expect holdings to fall as maturing debt and reduced OMOs offset purchases.
• RBI plans to maintain liquidity via CRR cuts and reverse repo, targeting 1% deposit cover till 2026.