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
Latest Expert Exchange
Latest Circulars »
 Exim Bank's Government of India supported Line of Credit of USD 500 million to the Government of the United Republic of Tanzania
 RBI-Guidelines on Loan System for Delivery of Bank Credit
 Auction of Government of India Dated Securities December 03, 2018
 Notification No. 94/2018-CUSTOMS Central Board of Indirect Taxes and Customs
 Auction for Sale (Re-issue) of Government Stock (GS) December 03, 2018
 Relaxation on the guidelines to NBFCs on securitisation transactions
 RBI-Legal Entity Identifier Code for participation in non-derivative markets
 Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines
 RBI-Relaxation on the guidelines to NBFCs on securitisation transactions
 RBI-Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
 RBI-External Commercial Borrowings (ECB) Policy – Review of Hedging Provision

RBI-Auction of Fourteen State Government Securities for ` 12,750 crore on January 13, 2015
January, 12th 2015

The following fourteen State Governments have offered to sell 10 year securities by way of auction for an aggregate amount of ` 12,750 crore (Face Value). The State-wise break up is as follows:

Sr.
No.
State Amt to be raised
(` crore)
Tenure
Years
1 Bihar 1,500 10
2 Gujarat* 1500 10
3 Haryana 600 10
4 Himachal Pradesh 300 10
5 Jharkhand 1,500 10
6 Kerala 1,500 10
7 Maharashtra 1,600 10
8 Madhya Pradesh 1,000 10
9 Meghalaya 100 10
10 Puducherry 50 10
11 Punjab 600 10
12 Rajasthan 500 10
13 Tamil Nadu* 1,200 10
14 Telangana 800 10
  Total 12,750  
*Gujarat and Tamil Nadu will have option to retain additional subscription of  ` 450 crore and ` 300 crorecr respectively

The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on 13 January 2015 (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 13 January 2015 (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 13 January 2015 (Tuesday) and payment by successful bidders will be made during banking hours on 14 January 2015 (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 July 14 and January 14 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 : 2014-2015/1452

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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