Auction for Sale : Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities

Auction for Sale : Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities 

(Department of Economic Affairs) (BUDGET DIVISION) 

NOTIFICATION

New Delhi, the 28th June, 2021

 Auction for Sale ( Re-issue) of Government Securities ( GS) 

F.No.4(3)-B(W&M)/2021.—Government  of  India  hereby  notifies  sale  (Re-issue)  of  the following Government Securities:

Government of India will have the option to retain additional subscription up to 8,000 crore against the above security/ securities. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Securities will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India.

Allotment to Non- competitive Bidders

2. The Government Securities up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive  Bidding Facility in the Auctions of Government Securities (Annex).

Place and dat e of auction 

3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400001 on July 02, 2021. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 02, 2021. The non- competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m.

When Issued Trading

4. The Securities will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India.

Dat e of issue and payment f or t he Securities 

5. The result of the auction shall be displayed by the Reserve Bank of India on its website (w ww.r bi.org. in) on July 02, 2021. The payment by successful bidders will be on July 05, 2021 i.e. the date of re-issue. The payment for the Securities will include accrued interest on the nominal value of the Securities allotted in the auction from the date of original issue/last coupon payment date to the date up to which accrued interest is due as mentioned in the table in para 6.

 Payment of Interest and Re- payment of Securities 

6. Interest will accrue on the nominal value of the Securities from the date of original issue/last coupon payment and will be paid half yearly. The Securities will be repaid at par on date of maturity.