The Government of India has announced the sale (New/re-issue) of four dated securities as per the following details: | Sr. No. | Security | Notified Amount
(₹ Crore) | Auction Date | Settlement date | | 1 | NI GS maturing on December 19, 2022 | 2,000 | September 09, 2016
(Friday) | September 12, 2016
(Monday) | | 2 | 7.61% GS 2030 | 8,000 | | 3 | 7.50% GS 2034 | 2,000 | | 4. | 8.17% GS 2044 | 2,000 | The auction for new security will be yield based and for others will be price based .The auctions will be conducted using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive 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 September 09, 2016. The non-competitive bids should be submitted between 10.30a.m. and 11.30a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on September 09, 2016. The stocks will qualify for the ready forward facility. The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 10:30 AM up to 12.00 noon on September 08, 2016 (Thursday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system. The Stocks will be eligible for “When Issued” trading for a period commencing from September 06 - September 09, 2016 in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time. The new stock will be reckoned as an eligible investment in Government Security by banks for SLR purpose under Section 24 of the Banking Regulation Act, 1949. Ajit Prasad
Assistant Adviser Press Release : 2016-2017/585 | |