1. Government announces sale of 6.84% government stock, 2022

Government announces sale of 6.84% government stock, 2022

The Government has announced the sale of “6.84 percent Government Stock, 2022” for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) “7.17 per cent Government Stock, 2028” for a notified amount of Rs 8,000 crore (nominal) through price based auction. Subject to the limit of Rs ​11,000 crore, being total […]

By: | Published: January 30, 2018 6:53 PM
budget 2018 budget date budget 2018 india India budget Union budget 2018 budget 2018 expectations defence budget budget for defence how much budget is required for defence The Government has announced the sale of “6.84 percent Government Stock, 2022” . (PTI)

The Government has announced the sale of “6.84 percent Government Stock, 2022” for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) “7.17 per cent Government Stock, 2028” for a notified amount of Rs 8,000 crore (nominal) through price based auction. Subject to the limit of Rs ​11,000 crore, being total notified amount, Government of India will have the option to retain additional subscription up to Rs. 1,000 crore each against any one or more of the above securities. The auctions will be conducted using multiple price method. The auctions will be conducted by the Reserve Bank of India​ ​(RBI), Mumbai Office, Fort, Mumbai on February 02, 2018 (Friday).

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.  Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 02, 2018. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on February 02, 2018 (Friday) and payment by successful bidders will be on February 05, 2018 (Monday). The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India.

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