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 November 14, 2022 |
November 18, 2022 (Friday) |
November 21, 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 extra subscription as much as ₹2,000 crore in opposition to every safety talked about above.
3. The securities might be bought by means of Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001.The sale might 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 might be carried out utilizing uniform worth technique for six.69% GS 2024, 7.10% GS 2029,7.54% GS 2036 and a number of worth technique for 7.40% GS 2062. Both aggressive and non-aggressive bids for the public sale must be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on November 18, 2022 (Friday). The non-aggressive bids must be submitted between 10.30 a.m. and 11.00 a.m. and the aggressive bids must be submitted between 10.30 a.m. and 11.30 a.m. The outcome might be introduced on the identical day and cost by profitable bidders should be made on November 21, 2022 (Monday).
5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion could be submitted by ‘Primary Dealers’ from 09.00 a.m. as much as 09:30 a.m. on November 18, 2022 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks might be eligible for “When Issued” buying and selling for a interval commencing from November 15 – November 18, 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: 2022-2023/1203
ANNEX
Type of Auction
1. For a number of worth-based mostly public sale, profitable bids will get accepted on the respective quoted yield/worth for the safety. For uniform worth-based mostly public sale, bids will get accepted on the lower off yield/worth accepted within the public sale.
2. The public sale might be yield based mostly for brand new safety and worth based mostly for securities that are re-issued.
3. In case of a Floating Rate Bonds (FRB), the public sale might be unfold-based mostly for brand new safety and worth based mostly for securities that are reissued. At the time of putting bids for brand new FRB, the unfold must be quoted in proportion phrases.
Minimum Bid Size
4. The Stocks might 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 might be allotted to the eligible people and establishments underneath the Scheme for Non-competitive Bidding Facility within the Auctions of Government Securities. Individual buyers may 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 premise 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 underneath the non-aggressive phase to the financial institution or PD might be on the weighted common fee of yield/worth of the profitable bids that may emerge within the public sale on the premise of the aggressive bidding.
Submission of Bids
8. Both aggressive and non-aggressive bids for the public sale must be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
9. Bids in bodily type 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 might be accepted. Such bodily bids must be submitted to the Public Debt Office, Mumbai by means of (electronic mail; Phone no: 022-22632527, 022-22701299) within the prescribed type which could 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 must be contacted (electronic mail; Phone no: 022-27595666, 022-27595415, 022-27523516).
12. For different public sale associated difficulties, IDMD public sale workforce could 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 combination quantity of bids submitted by an individual in an public sale mustn’t exceed the notified quantity of public sale.
Decision Making Process
15. On the premise of bids obtained, the Reserve Bank will decide the minimal worth as much as which tenders for buy of Government Stock might be accepted on the auctions.
16. Bids quoted at charges decrease than the minimal worth decided by the Reserve Bank of India might 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 purpose.
Issue of Securities
18. Issue of securities to the profitable bidders might be by credit score to Subsidiary General Ledger Account (SGL) of events sustaining such account with Reserve Bank of India or within the type of Stock Certificate.
Periodicity of Interest Payment
19. Interest on the Government Stock will usually be paid half-yearly apart from in case of securities with non-customary maturities. The precise periodicity of coupon cost 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 underneath auctions by the ‘Primary Dealers’ might 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 now and again.
Eligibility for Repurchase Transactions (Repo)
21. The Stocks might 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 now and again.
Eligibility for ‘When Issued’ Trading
22. The Stocks might 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 now and again.
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).
