The Government of India has notified the repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” through reverse auction for an aggregate amount of ₹ 6,500 crore (face value).
The repurchase by the Government of India will be undertaken to prematurely redeem the Government Stock by utilising surplus cash balances. The above repurchase of the Government Stock is purely adhoc in nature.
Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 11, 2016 (Thursday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.
RBI reserves the right to:
Decide on the quantum of purchase of individual securities.
Accept less than the aggregate amount of ₹ 6,500 crore.
Accept or reject any or all of the offers either wholly or partially without assigning any reason.
Press Release : 2015-2016/1854
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