Government of India (GoI) has announced the sale (issue/re-issue) of three dated securities as per the following details:

2. Subject to the limit of ₹ 19,000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ₹ 2,000 Cr each against any one or more of the above security. The amounts so retained may be within the notified amount, by setting-off under other securities in the same auction, or may be over and above the notified amount. The total amount retained over and above the notified will not exceed ₹ 20,000 crore in first half of FY 2020-21 and will be set-off in second half year. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The auction will be yield based (for new securities) and price based (for other securities), using multiple price method. 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.

3. 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 April 9, 2020. The non-competitive bids should be submitted between 10.30 a.m. to 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. to 11.30 a.m. The result of the auctions will be announced on April 9, 2020.

4. Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

5. The stocks will qualify for the ready forward facility.

6. The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 9.00 AM up to 9.45 AM on April 9, 2020 (Thursday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

7. The Stocks will be eligible for “When Issued” trading for a period commencing from April 7, 2020 – April 9, 2020 in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No.RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Ajit Prasad
Director   

Press Release: 2019-2020/2181