Reserve Bank of India – Press Releases

The following State Governments have provided to promote inventory by approach of public sale, for an mixture quantity of ₹27,200 Crore (Face Value).

The public sale will probably be performed on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 25, 2022 (Tuesday). The Government Stock as much as Ten per cent of the notified quantity of the sale of every inventory will probably be allotted to eligible people and establishments topic to a most restrict of One per cent of its notified quantity for a single bid per inventory as per the Scheme for Non-competitive Bidding Facility. Individual traders can place bids as per the non-aggressive scheme additionally by the Retail Direct portal (https://rbiretaildirect.org.in).

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 October 25, 2022 (Tuesday). The aggressive bids ought to be submitted between 10.30 A.M. and 11.30 A.M. and non-aggressive bids ought to be submitted between 10.30 A.M. and 11.00 A.M.

In case of technical difficulties, Core Banking Operations Team (e mail; Phone no: 022-27595666, 022-27595415, 022-27523516) could also be contacted.

For different public sale associated difficulties, IDMD Auction Team might be contacted (e mail; Phone no: 022-22702431, 022-22705125).

Only within the occasion of system failure, bodily bids can be accepted. Such bodily bids ought to be submitted to the Public Debt Office (e mail; Phone no: 022-22632527, 022-22701299) within the prescribed type obtainable from RBI web site (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) earlier than the public sale timing ends.

The yield p.c every year anticipated by the bidder ought to be expressed as much as two decimal factors. An investor can submit a couple of aggressive bid at similar/totally different charges of yield or costs in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the combination quantity of bids submitted by a bidder shouldn’t exceed the notified quantity for every State.

The Reserve Bank of India will decide the utmost yield /minimal value at which bids will probably be accepted. Stock will probably be issued for a minimal nominal quantity of ₹10,000.00 and multiples of ₹10,000.00 thereafter.

The outcomes of the public sale will probably be introduced on October 25, 2022 (Tuesday) and cost by profitable bidders will probably be made throughout banking hours on October 27, 2022 (Thursday) at Mumbai and at respective Regional Offices of RBI.

The new State Government Stocks will bear curiosity on the charges decided by RBI on the auctions. For the brand new inventory, curiosity will probably be paid half yearly on April 27 and October 27 of every year until maturity. For the re-issued Government Stock, curiosity will probably be paid on the price as decided on the date of authentic situation of Government Stock and will probably be paid on half yearly foundation until maturity. The Stocks will probably be ruled by the provisions of the Government Securities Act, 2006 and the Government Securities Regulations, 2007.

The funding in State Government Stocks will probably be reckoned as an eligible funding in Government Securities by banks for the aim of Statutory Liquidity Ratio (SLR) below Section 24 of the Banking Regulation Act, 1949. The shares will qualify for the prepared ahead facility.

Rupambara           
Director (Communications)

Press Release: 2022-2023/1076