Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: empanelment :: VAT Audit :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES
 
 
Latest Circulars »
 RBI-Utkarsh Small Finance Bank Limited commences operations
 RBI-Auction of Government of India Dated Securities January 23, 2017
 Rate of exchange of conversion of the foreign currency with effect from 20th January, 2017
  RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
 Auction of Government of India Dated Securities January 16, 2017
  Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of ₹ 500 and ₹ 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016
 RBI-Career Opportunities at Reserve Bank Information Technology Pvt Ltd
 RBI-Appointment of Director, National Institute of Bank Management (NIBM), Pune (Revised)
 RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
  Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
 Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

Auction of Fifteen State Government Securities for ` 15150 crore on November 25, 2014
November, 24th 2014

The following fifteen State Governments have offered to sell 5/10 year securities by way of auction for an aggregate amount of ` 15150 crore (Face Value). The State-wise break up is as follows:

Sr. No.

State

Amt to be raised
(` crore)

Tenure
Years

1

Andhra Pradesh

2000

10

2

Bihar

1000

10

3

Gujarat*

1000

10

4

Haryana

500

10

5

Himachal Pradesh

200

10

6

Karnataka

2500

10

7

Kerala

1000

10

8

Madhya Pradesh

750

10

9

Maharashtra

1500

10

10

Nagaland

150

10

11

Punjab

300

5

12

Rajasthan

500

10

13

Tamil Nadu*

1500

10

14

Uttar Pradesh

1250

10

15

West Bengal

1000

10

 

 

15150

 

*Gujarat and Tamil Nadu will have option to retain additional subscription of 300 cr and ` 375 cr respectively

The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on 25 November, 2014 (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 25 November, 2014 (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 November 25, 2014 (Tuesday) and payment by successful bidders will be made during banking hours on November 26, 2014 (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 May 26 and November 26 of each year till maturity for all states. 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.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/1048

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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