Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TDS :: form 3cd :: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment
 
 
Latest Circulars »
 Reserve Bank of India imposes monetary penalty on Syndicate Bank
 Sovereign Gold Bond 2017-18 Series-XIII-Issue Price
 CAFRAL Conference on “Financial System and the Macroeconomy” (Opening remarks by Dr. Urjit R. Patel, Governor- December 7, 2017 – Mumbai)
 RBI to conduct overnight Variable Rate Repo auction under LAF on December 18, 2017
 Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions
  GST-Practical Difficulties In Filing And Solution, Code Of Ethics (Indirect Taxes)
 Sources of Variation in Foreign Exchange Reserves in India during April-September 2017
 Developments in India’s Balance of Payments during the Second Quarter (July-September) of 2017-18
 Professor Vijay Joshi, Emeritus Fellow, Merton College, Oxford, delivers the Fifteenth L. K. Jha Memorial Lecture titled ‘India’s Economic Reforms: Reflections on the Unfinished Agenda’
 Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review
 Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions

Auction of Government of India Dated Securities
October, 16th 2012

Ref.No.IDMD/1265/08.02.032/2012-13

October 15, 2012

All Scheduled Commercial Banks
All State Co-operative Banks/All Scheduled Primary 
(Urban) Co-operative Banks /All Financial Institutions/
All Primary Dealers.

Dear Sir/Madam,

Auction of Government of India Dated Securities

Government of India have offered to sell (re-issue) (a) 8.19 percent Government Stock 2020 for a notified amount of Rs.3,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(5)-W&M/2012 dated October 15, 2012; (b) 8.20 percent Government Stock 2025 for a notified amount of Rs.7,000 crore (nominal) through a price based auctionusing uniform price method vide Notification No.4(5)-W&M/2012(i) dated October 15, 2012; and (c) 8.83 percent Government Stock 2041 for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(5)-W&M/2012(ii) dated October 15, 2012. The Reserve Bank of India at Mumbai will conduct the auctions on October 19, 2012. 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:

  1. The Stocks will be issued for a minimum amount of Rs.10,000/- (nominal) and in multiples of Rs.10,000/- thereafter.

  2. In all 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(5)-W&M/2012, F.No.4(5)-W&M/2012(i) and F.No.4(5)-W&M/2012(ii) all dated October 15, 2012). Each bank or PD on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Negotiated Dealing System (NDS). Allotment under the non-competitive segment to the bank or PD will be at the cut-off price that will emerge in the auction on the basis of the competitive bidding.

  3. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on October 19, 2012. Bids in physical form will not be accepted except in extraordinary circumstances such as general failure of the NDS system. 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.

  4. An investor can submit more than one competitive bid at different prices in electronic format on the Negotiated Dealing System (NDS). However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction.

  5. On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected. Reserve Bank of India will have the full discretion to accept or reject any or all bids either wholly or partially without assigning any reason.

  6. The result of the auctions will be announced on October 19, 2012 and payment by successful bidders will be on October 22, 2012 (Monday).

  7. The Government Stocks will be issued by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate. Interest on the Government Stock will be paid half-yearly.

  8. The Government Stocks will be repaid at par on January 16, 2020, September 24, 2025 and December 12, 2041 respectively.

  9. The Stocks will qualify for the ready forward facility.

  10. The Stocks will be eligible for When Issued trading during the period October 16, 2012October 19, 2012 in accordance with guidelines on When Issued transactions in Central Government Securities issued by Reserve Bank of India vide circular No.RBI /2006-07/178 dated November 16, 2006 as amended from time to time.

Yours faithfully

(Rajendra Kumar)
Deputy General Manager

Encls: As above

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions