Auction of Government of India Dated Securities - ਆਰਬੀਆਈ - Reserve Bank of India
Auction of Government of India Dated Securities
Ref.No. IDMD / 3740/08.02.33/2008-09 |
February 6, 2009
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All Scheduled Commercial Banks excluding RRBs/ Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) of “6.05 per cent Government Stock 2019” for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple price method vide Notification No.4(2)-W&M/2008 dated February 6, 2009. Government of India have also announced sale (re-issue) of “6.83 per cent Government Stock 2039” for a notified amount of Rs.2,000 crore (nominal) through a price based auction using multiple price method vide Notification No.4(2)-W&M/2008(i) dated February 6, 2009. Reserve Bank of India at Mumbai will conduct the auctions on February 13, 2009. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the Notifications (copies enclosed), which should be read along with the General Notification F.No. 4 (13)–W&M/2008, dated October 8, 2008 issued by Government of India. 2. We wish to draw your attention, in particular, to the following: (i) The Stocks will be issued for a minimum amount of Rs.10,000/- (nominal) and in multiples of Rs.10,000/- thereafter. (iii) For both the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (enclosed with the notifications F. No.4 (2)-W&M/2008 and F. No.4 (2)-W&M/2008(i) both dated February 6, 2009). The non competitive bids should be submitted in the prescribed form of application given in Annexure I (a)/ II (a) by 12.30 P.M. on February 13, 2009 in sealed covers superscribed “Non-competitive bid for 6.05 per cent Government Stock 2019- Auction dated February 13, 2009" or "Non-Competitive bid for 6.83 per cent Government Stock 2039-Auction dated February 13, 2009” (as the case may be) and deposited in the appropriate tender box kept for the purpose at Reserve Bank of India, Fort, Mumbai. (v) An investor can submit more than one bid at different prices but a separate application should be submitted for each bid. The aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction. (vii) The result of the auctions will be displayed at Reserve Bank of India, Mumbai Office, Fort, Mumbai on February 13, 2009. Successful bidders will be required to deposit with the Reserve Bank of India, Public Debt Office, Fort, Mumbai, the amount payable for the Government Stock allotted to them in cash or by cheque on their account with Reserve Bank of India, Mumbai or by Banker’s pay order payable at Mumbai, along with a covering letter on February 16, 2009 before 3.00 P.M. In case of current account holders, the amount payable will be debited to their respective current accounts maintained with the Reserve Bank of India. (ix) The Government Stocks will be repaid at par on February 2, 2019 and January 19, 2039, respectively. Yours faithfully, (R.Subramanian) Encls: As above |