The Government of India have notified the repurchase of its Securities through reverse auction for an aggregate amount of ₹ 15,000 crore (face value). The security-wise details of the repurchase are given as under: | Sr. No. | Nomenclature | Date of maturity | | 1. | 7.59% Government Stock 2016 | April 12, 2016 | | 2. | 10.71% Government Stock 2016 | April 19, 2016 | | 3. | 7.02% Government Stock 2016 | August 17, 2016 | The repurchase by the Government of India will be undertaken to prematurely redeem the Government Stocks by utilizing its surplus cash balances. The above repurchase of the Government Stocks is purely ad hoc in nature. Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 22, 2016 (Monday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day & settlement will take place on February 23, 2016. RBI reserves the right to: -
Decide on the quantum of purchase of individual securities. -
Accept less than the aggregate amount of ₹ 15,000 crore. -
Purchase marginally higher than the aggregate amount due to rounding off effects. -
Accept or reject any or all of the offers either wholly or partially without assigning any reason. Ajit Prasad
Assistant Adviser Press Release : 2015-2016/1954 | |