The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year October 30, 2023 to April 29, 2024 shall be 8.10 per cent per annum.

It may be recalled that FRB 2034 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., October 30, 2023) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1193

Auction Results New GS 2026 7.18% GS 2037 7.25% GS 2063 I. Notified Amount    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore II. Underwriting Notified Amount    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore III.    Competitive Bids Received    (i) Number    115    199    233 (ii) Amount    ₹22660 Crore    ₹26505.300 Crore    ₹39857.403 Crore IV.    Cut-off price / Yield    -    97.62    96.38 (YTM: 7.3300%)    (YTM: 7.4580%)    (YTM: 7.5373%) V. Competitive Bids Accepted    

(i) Number    30    61    43
(ii) Amount    ₹7993.553 Crore    ₹9989.014 Crore    ₹11988.540 Crore
VI.    Partial Allotment Percentage of Competitive Bids    83.68%    38.62%    93.10%
(17 Bids)    (8 Bids)    (6 Bids)
VII.    Weighted Average Price/Yield    100.00    97.62    96.45
(WAY: 7.3300%)    (WAY: 7.4580%)    (WAY: 7.5315%)
VIII.    Non-Competitive Bids Received    

(i) Number    4    4    5
(ii) Amount    ₹6.447 Crore    ₹10.986 Crore    ₹11.46 Crore
IX.    Non-Competitive Bids Accepted    

(i) Number    4    4    5
(ii) Amount    ₹6.447 Crore    ₹10.986 Crore    ₹11.46 Crore
(iii) Partial Allotment Percentage    -    -    -
X.    Amount of Underwriting accepted from primary dealers    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore
XI.    Devolvement on Primary Dealers    NIL    NIL    NIL

New GS 2026 7.18% GS 2037 7.25% GS 2063 I. Notified Amount ₹8,000 crore ₹10,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 7.33% 97.62/7.4580% 96.38/7.5373% III. Amount accepted in the auction ₹8,000 crore ₹10,000 crore ₹12,000 crore
IV.    Devolvement on Primary Dealers    NIL    NIL    NIL
Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1186

In the underwriting auctions conducted on October 27, 2023 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹25,400 Crore (Face Value).

Sr. No.State / UTAmount to be raised
(₹ Cr)Additional Borrowing (Greenshoe) Option
(₹ Cr)Tenure (Year)Type of Auction

1Andhra Pradesh500-13Yield

500-14Yield

500-18Yield

500-20Yield

2Bihar2000-8Yield

3Chhattisgarh1000-8Yield

4Goa100-10Yield

5Haryana1000-12Yield

6Jammu and Kashmir600-30Yield

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on October 27, 2023.

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ crore)
Security    Notified Amount    Minimum Underwriting Commitment (MUC) amount per PD    Minimum bidding commitment per PD under ACU auction
New GS 2026    8,000    191    191
7.18% GS 2037    10,000    239    239
7.25% GS 2063    12,000    286    286

Auction Results91 Days182 Days364 Days I.Notified Amount₹7000 Crore₹8000 Crore₹9000 Crore II.Competitive Bids Received (i) Number109169156 (ii) Amount₹20770.552 Crore₹31070.500 Crore₹21703.750 Crore III.Cut-off price / Yield98.300496.563493.3355

(YTM: 6.9349%)(YTM: 7.1374%)(YTM: 7.1600%)

IV.Competitive Bids Accepted

 

(i) Number452275

(ii) Amount₹6979.511 Crore₹7965.101 Crore₹8987.682 Crore

V.Partial Allotment Percentage of Competitive Bids34.84%29.46%15.63%

(5 Bids)(2 Bids)(2 Bids)

VI.Weighted Average Price/Yield98.303696.567693.3468

(WAY: 6.9217%)(WAY: 7.1283%)(WAY: 7.1470%)

VII.Non-Competitive Bids Received

 

(i) Number543

(ii) Amount₹20.489 Crore₹34.899 Crore₹686.538 Crore

VIII.Non-Competitive Bids Accepted

 

(i) Number543

(ii) Amount₹20.489 Crore₹34.899 Crore₹686.538 Crore

(iii) Partial Allotment Percentage---

I.T-Bill91 days182 days364 days II.Total Face Value Notified₹7,000 Crore₹8,000 Crore₹9,000 Crore III.Cut-off Price and Implicit Yield at Cut-Off Price98.3004 (YTM: 6.9349%)96.5634 (YTM: 7.1374%)93.3355
(YTM: 7.1600%) IV.Total Face Value Accepted₹7,000 Crore₹8,000 Crore₹9,000 Crore

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1171

RBI-Retail Direct Scheme was launched by the Hon’ble Prime Minister on November 12, 2021. Under the Scheme, individual investors are permitted to open Retail Direct Gilt account with the Reserve Bank of India, using an online portal (https://rbiretaildirect.org.in), through which investments in Government Securities can be made in primary and secondary market. The scheme has brought Government Securities within easy reach of retail investors by simplifying the process of investment.

Government of India (GOI) has announced the sale (Issue/re-issue) of three dated securities for a notified amount of ₹30,000 crore as per the following details:

Sr No    Security    Date of Repayment    Notified Amount
(₹ crore)    GoI specific Notification    Auction Date    Settlement Date
1    New GS 2026    Oct 30, 2026    8,000    F.No.4(3)-B(W&M)/2023 dated October 23, 2023    October 27, 2023
(Friday)    October 30, 2023
(Monday)
2    7.18% GS 2037    July 24, 2037    10,000
3    7.25% GS 2063    June 12, 2063    12,000

Total    
30,000    

2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.