SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 02 Apr, 2024  

RBI.9.Thmb.jpg Govt to sell bonds worth Rs 38,000 cr via RBI's multiple price auction method

RBI.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 02 Apr, 2024
The Finance Ministry on Monday announced the sale of Rs 38,000 crore worth of government bonds through the Reserve Bank of India's new multiple price auction method.

These include (i) the sale of “7.33 per cent Government Security 2026” for a notified amount of Rs 6,000 crore through price-based auction using the multiple price method, (ii) “New Government Security 2034” for a notified amount of Rs 20,000 crore through yield-based auction using the multiple price method, and (iii) “7.25 per cent Government Security 2063” for a notified amount of Rs 12,000 crore through price-based auction using the multiple price method, the Finance Ministry said in a statement.

The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each security. The auctions will be conducted by the RBI's Mumbai office on April 5 (Friday), the statement added.

Up to 5 per cent of the notified amount of the sale of the securities will be allotted to the 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 RBI's Core Banking Solution (E-Kuber) system on April 5. The non-competitive bids should be submitted between 12:30 p.m. and 1 p.m., while the competitive bids should be submitted between 12:30 p.m. and 1:30 p.m.

The results of the auctions will be announced on the same day and the payment by the successful bidders will be made on April 8.

The securities will be eligible for 'When Issued' trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the RBI vide circular No. RBI/2018-19/25 dated July 24, 2018, as amended from time to time, the statement said.

The RBI on its part announced on Monday that it has in a review of the market conditions, in consultation with the Government of India, decided that all securities under the market borrowing programme of the government, henceforth, will be auctioned using the multiple price method.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter