BANKER AND DEBT MANAGER TO GOVERNMENT

Managing the government's banking transactions is a key RBI role. Like individuals, businesses and banks, governments need a banker to carry out their financial transactions in an efficient and effective manner, including the raising of resources from the public.

Press Release


PDF document (116 kb)
Date : Mar 09, 2017
Auction of State Government Securities for ₹ 23,443.00 crore on March 14, 2017

The following State Governments have offered to sell 10/20 years securities by way of auction for an aggregate amount of ₹ 23,443.00 crore (Face Value).

Sr. No. State Amount to be raised
(in ₹ crore)
Tenure Years Type of auction
1. Andhra Pradesh 1000 10 Yield based
2. Bihar 1700 10 Yield based
3. Chhattisgarh 1400 10 Yield based
4. Goa 150 10 Yield based
5. Gujarat 1000 10 Yield based
6. Haryana 1000 10 Yield based
7. Himachal Pradesh 700 10 Yield based
8. Jharkhand 893 10 Yield based
9. Karnataka 2686 10 Yield based
10. Kerala 1400 10 Yield based
11. Meghalaya 114 10 Yield based
12. Rajasthan 2000 10 Yield based
13. Tamil Nadu 1000 10 Yield based
14. Telangana 1000 20 Yield based
15. Uttar Pradesh 1650 10 Yield based
16. Uttarakhand 750 10 Yield based
17. West Bengal 5000 10 Yield based
  Total 23443    

The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on March 14, 2017 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each of the stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility (available on RBI website).

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 March 14, 2017 (Tuesday).

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 yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at different prices in electronic format on the Reserve Bank of India Core banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.

The Reserve Bank of India will determine the maximum yield/minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ₹ 10,000.00 and multiples of ₹ 10,000.00 thereafter.

The results of the auction will be announced on March 14, 2017 (Tuesday) and payment by successful bidders will be made during banking hours on March 15, 2017 (Wednesday) at Mumbai and at respective Regional Offices of RBI.

The State Government Stocks will bear interest at the rates determined by RBI at the auctions. Interest will be paid half yearly on September 15 and March 15 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2016-2017/2406


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