Government of India (GOI) has introduced the sale (re-problem) of 4 dated securities for a notified quantity of ₹32,000 crore as per the next particulars:
| Sr No | Security | Date of Repayment | Notified Amount (₹ crore) |
GoI particular Notification | Auction Date | Settlement Date |
| 1 | 7.38% GS 2027 | June 20, 2027 | 9,000 | F.No.4(3)-B(W&M)/2022 dated August 22, 2022 | August 26, 2022 (Friday) |
August 29, 2022 (Monday) |
| 2 | GOI FRB 2028* | Oct 04, 2028 | 4,000 | |||
| 3 | 7.54% GS 2036 | May 23, 2036 | 11,000 | |||
| 4 | 6.99% GS 2051 | Dec 15, 2051 | 8,000 | |||
| Total | 32,000 | |||||
| *The base charge for the coupon cost for the interval from April 04, 2022 to October 03, 2022 for GOI FRB 2028 shall be 4.29 per cent every year. | ||||||
2. GoI could have the choice to retain further subscription as much as ₹2,000 crore in opposition to every safety talked about above.
3. The securities shall be bought by means of Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001.The sale shall be topic to the phrases and situations spelt out within the ‘Specific Notification’ talked about above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.
4. The public sale shall be carried out utilizing uniform value technique for 7.38% GS 2027, GOI FRB 2028, 7.54% GS 2036 and a number of value technique for six.99% GS 2051. Both aggressive and non-aggressive bids for the public sale ought to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on August 26, 2022 (Friday). The non-aggressive bids ought to be submitted between 10.30 a.m. and 11.00 a.m. and the aggressive bids ought to be submitted between 10.30 a.m. and 11.30 a.m. The end result shall be introduced on the identical day and cost by profitable bidders must be made on August 29, 2022 (Monday).
5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion might be submitted by ‘Primary Dealers’ from 09.00 a.m. as much as 09.30 a.m. on August 26, 2022 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks shall be eligible for “When Issued” buying and selling for a interval commencing from August 23 – August 26, 2022.
7. Operational pointers for Government of India dated securities public sale and different particulars are given within the Annex.
Rupambara
Director (Communications)
Press Release: 2022-2023/745
ANNEX
Type of Auction
1. For a number of value-based mostly public sale, profitable bids will get accepted on the respective quoted yield/value for the safety. For uniform value-based mostly public sale, bids will get accepted on the minimize off yield/value accepted within the public sale.
2. The public sale shall be yield based mostly for brand new safety and value based mostly for securities that are re-issued.
3. In case of a Floating Rate Bonds (FRB), the public sale shall be unfold-based mostly for brand new safety and value based mostly for securities that are reissued. At the time of inserting bids for brand new FRB, the unfold ought to be quoted in proportion phrases.
Minimum Bid Size
4. The Stocks shall be issued for a minimal quantity of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter.
Non-Competitive Segment
5. In all of the auctions, Government Stock as much as 5% of the notified quantity of sale shall be allotted to the eligible people and establishments beneath the Scheme for Non-competitive Bidding Facility within the Auctions of Government Securities. Individual buyers may also place bids as per the non-aggressive scheme by means of the Retail Direct portal (https://rbiretaildirect.org.in).
6. Each financial institution or Primary Dealer (PD) on the idea of agency orders acquired from their constituents will submit a single consolidated non-aggressive bid on behalf of all its constituents in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
7. Allotment beneath the non-aggressive section to the financial institution or PD shall be on the weighted common charge of yield/value of the profitable bids that may emerge within the public sale on the idea of the aggressive bidding.
Submission of Bids
8. Both aggressive and non-aggressive bids for the public sale ought to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
9. Bids in bodily kind won’t be accepted besides in extraordinary circumstances.
Business Continuity Plan (BCP)-IT failure
10. Only within the occasion of system failure, bodily bids shall be accepted. Such bodily bids ought to be submitted to the Public Debt Office, Mumbai by means of (electronic mail; Phone no: 022-22632527, 022-22701299) within the prescribed kind which might be obtained from RBI web site (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) earlier than the public sale timing ends.
11. In case of technical difficulties, Core Banking Operations Team ought to be contacted (electronic mail; Phone no: 022-27595666, 022-27595415, 022-27523516).
12. For different public sale associated difficulties, IDMD public sale crew might be contacted (electronic mail; Phone no: 022-22702431, 022-22705125).
Multiple Bids
13. An investor can submit multiple aggressive bid in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
14. However, the mixture quantity of bids submitted by an individual in an public sale shouldn’t exceed the notified quantity of public sale.
Decision Making Process
15. On the idea of bids acquired, the Reserve Bank will decide the minimal value as much as which tenders for buy of Government Stock shall be accepted on the auctions.
16. Bids quoted at charges decrease than the minimal value decided by the Reserve Bank of India shall be rejected.
17. Reserve Bank of India could have the complete discretion to just accept or reject all or any bids both wholly or partially with out assigning any purpose.
Issue of Securities
18. Issue of securities to the profitable bidders shall be by credit score to Subsidiary General Ledger Account (SGL) of events sustaining such account with Reserve Bank of India or within the kind of Stock Certificate.
Periodicity of Interest Payment
19. Interest on the Government Stock will typically be paid half-yearly aside from in case of securities with non-normal maturities. The actual periodicity of coupon cost is invariably talked about within the particular notification for the problem of safety.
Underwriting of the Government Securities
20. The underwriting of the Government Securities beneath auctions by the ‘Primary Dealers’ shall be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” introduced by the Reserve Bank vide round RBI/2007-08/186 dated November 14, 2007 as amended once in a while.
Eligibility for Repurchase Transactions (Repo)
21. The Stocks shall be eligible for Repurchase Transactions (Repo) as per the situations talked about in Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 (Reserve Bank) Directions, 2018 as amended once in a while.
Eligibility for ‘When Issued’ Trading
22. The Stocks shall be eligible for “When Issued” buying and selling in accordance with the rules on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide round No. RBI/2018-19/25 dated July 24, 2018 as amended once in a while.
Investment by Non-Residents
23. Investments by Non-Residents are topic to the rules on ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities and Investment by Foreign Portfolio Investors (FPI) in Government Securities: Medium Term Framework (MTF).
