Government of India (GOI) has introduced the sale (re-situation) of 4 dated securities for a notified quantity of ₹30,000 crore as per the next particulars:
| Sr No | Security | Date of Repayment | Notified Amount (₹ crore) |
GoI particular Notification | Auction Date | Settlement Date |
| 1 | 6.69% GS 2024 | June 27, 2024 | 4,000 | F.No.4(3)-B(W&M)/2022 dated October 31, 2022 |
November 04, 2022 (Friday) |
November 07, 2022 (Monday) |
| 2 | 7.10% GS 2029 | Apr 18, 2029 | 6,000 | |||
| 3 | 7.54% GS 2036 | May 23, 2036 | 11,000 | |||
| 4 | 7.40% GS 2062 | Sep 19, 2062 | 9,000 | |||
| Total | 30,000 |
2. GoI can have the choice to retain further subscription as much as ₹2,000 crore in opposition to every safety talked about above.
3. The securities can be offered by way of Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001.The sale can 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 can be carried out utilizing uniform value methodology for six.69% GS 2024, 7.10% GS 2029, 7.54% GS 2036 and a number of value methodology for 7.40% GS 2062. Both aggressive and non-aggressive bids for the public sale needs to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on November 04, 2022 (Friday). The non-aggressive bids needs to be submitted between 10.30 a.m. and 11.00 a.m. and the aggressive bids needs to be submitted between 10.30 a.m. and 11.30 a.m. The end result can be introduced on the identical day and fee by profitable bidders must be made on November 07, 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 November 04, 2022 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks can be eligible for “When Issued” buying and selling for a interval commencing from November 01 – November 04, 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: 2022-2023/1123
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 lower off yield/value accepted within the public sale.
2. The public sale can be yield based mostly for brand spanking new safety and value based mostly for securities that are re-issued.
3. In case of a Floating Rate Bonds (FRB), the public sale can be unfold-based mostly for brand spanking new safety and value based mostly for securities that are reissued. At the time of putting bids for brand spanking new FRB, the unfold needs to be quoted in proportion phrases.
Minimum Bid Size
4. The Stocks can 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 can be allotted to the eligible people and establishments below 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 way of the Retail Direct portal (https://rbiretaildirect.org.in).
6. Each financial institution or Primary Dealer (PD) on the idea of agency orders obtained 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 below the non-aggressive section to the financial institution or PD can 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 needs to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
9. Bids in bodily kind is not going to be accepted besides in extraordinary circumstances.
Business Continuity Plan (BCP)-IT failure
10. Only within the occasion of system failure, bodily bids can be accepted. Such bodily bids needs to be submitted to the Public Debt Office, Mumbai by way 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 needs to be contacted (electronic mail; Phone no: 022-27595666, 022-27595415, 022-27523516).
12. For different public sale associated difficulties, IDMD public sale group might be contacted (electronic mail; Phone no: 022-22702431, 022-22705125).
Multiple Bids
13. An investor can submit a couple of 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 obtained, the Reserve Bank will decide the minimal value as much as which tenders for buy of Government Stock can be accepted on the auctions.
16. Bids quoted at charges decrease than the minimal value decided by the Reserve Bank of India can be rejected.
17. Reserve Bank of India can have the total discretion to simply accept or reject all or any bids both wholly or partially with out assigning any motive.
Issue of Securities
18. Issue of securities to the profitable bidders can 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-customary maturities. The precise periodicity of coupon fee is invariably talked about within the particular notification for the difficulty of safety.
Underwriting of the Government Securities
20. The underwriting of the Government Securities below auctions by the ‘Primary Dealers’ can 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 every now and then.
Eligibility for Repurchase Transactions (Repo)
21. The Stocks can 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 every now and then.
Eligibility for ‘When Issued’ Trading
22. The Stocks can 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 every now and then.
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).
