November 06, 2012

Auction of 3 GOI Dated Securities on 09.11.2012

Auction of 3 GOI Dated Securities on 09.11.2012

Government of India announced the sale of Three dated securities on 09th November 2012 for Rs.13,000 Crores.

With reference to the above subject we would like to inform you that, Government of India have announced:
(i)        Sale (re-issue) of “8.19 Percent Government Stock 2020” for a notified amount of Rs.3,000 crore (nominal) through price based auction
(ii)      Sale (re-issue) of “8.20 Percent Government Stock 2025” for a notified amount of Rs.7,000 crore (nominal) through price based auction
(iii)       Sale (re-issue) of “8.83 percent Government Stock 2041” for a notified amount of Rs.3,000 crore (nominal) through price based auction

All the auction will be conducted using Uniform Price Method.  The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 09th November, 2012 (Friday).

Upto 5% of the notified amount of the sale of stocks will be allotted to eligible individuals and institutioins as per the scheme of Non Comptitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) System on 09th November, 2012 (Friday). The non-competitive bids should be submitted before 10.30 a.m. and the competitive bids should be submitted before 11.00 a.m.

The result of the auctions will be announced on 09th November, 2012 (Friday) and payment by successful bidders will be on 12th November, 2012 (Monday).

The investment in Government Stocks will be reckoned as an eligible investment in Government Securities by Banks for the purpose of Statutory Liquidity Ration (SLR) under Section 24 of the Banking Regulation Act, 1949.  

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