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: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TDS
 
 
« Latest Circulars »
 Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
  Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017
 RBI-Reserve Bank Commercial Paper Directions, 2017
  RBI announces OMO Sale of Government of India Dated Securities
 Risk Management and Interbank Dealings- Reports to the Reserve Bank
  RBI announces OMO Sale of Government of India Dated Securities
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri S.S. Godara, JM & Manish Borad, Am Causelist For Bench 'A' 07-08-2017

RBI-Auction of Government of India Dated Securities
April, 09th 2013

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

April 08, 2013

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

Dear Sirs,

Auction of Government of India Dated Securities

Government of India have offered to sell (re-issue)  (a) “7.83 percent Government Stock 2018” for a notified amount of Rs.3,000 crore (nominal) through a price based auction using multiple price method vide Notification No.4(5)-W&M/2013 dated April 08, 2013; (b) “8.20 percent Government Stock 2025” for a notified amount of Rs.6,000 crore (nominal) through a price based auctionusing multiple price method vide Notification No.4(5)-W&M/2013(i) dated April 08, 2013 (c) “8.97 percent Government Stock 2030” for a notified amount of Rs.3,000 crore (nominal) through a price based auction using multiple price method vide Notification No.4(5)-W&M/2013(ii) dated April 08, 2013 and (d) “8.83 percent Government Stock 2041 ” for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using multiple price method vide Notification No.4(5)-W&M/2013(iii) dated April 08, 2013.  The Reserve Bank of India at Mumbai will conduct the auctions on April 12, 2013. 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/2013, F.No.4(5)-W&M/2013(i), F.No.4(5)-W&M/2013(ii) and F.No.4(5)-W&M/2013(iii) all dated April 08, 2013]. 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 Reserve Bank of India Core Banking Solution (E-Kuber) system.  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 Reserve Bank of India Core Banking Solution (E-Kuber) system on April 12, 2013. Bids in physical form will not be accepted except in extraordinary circumstances. 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 p.m.

  4. 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 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 April 12, 2013 and payment by successful bidders will be on April 15, 2013 (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 April 11, 2018, September 24, 2025, December 5, 2030 and December 12, 2041 respectively.

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

  10. The Stock will be eligible for “When Issued” trading during the period April 9, 2013 – April 12, 2013 in accordance with the guidelines on ‘When Issued’ transactions in Central Government Securities’ issued by the 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.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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