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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: ACCOUNTING STANDARDS :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: VAT Audit :: list of goods taxed at 4%
 
 
« Latest Circulars »
 Regulatory requirements for issue of Pre-paid Payment Instruments by Co-operative Banks
 Applications invited for the Post of Deputy Governor, Reserve Bank of India
 Auction of Government of India Dated Securities May 22, 2017
  Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 A Call for Enterprise in Economic Data Generation and Information Analytics - Dr. Viral V Acharya, Deputy Governor - May 19, 2017 - Presentation at the 9th Indian Chamber of Commerce Banking Summit, Kolkata
 Reserve Bank of India Outlines the action plan to implement the Banking Regulation (Amendment) Ordinance, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable Rate Reverse Repo Auctions under LAF on May 18, 2017
 RBI to conduct 7 day, 14 day and 28 day Variable rate Reverse Repo auctions under LAF on May 17, 2017
 RBI-Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India
 Auction of Government of India Dated Securities May 15, 2017
 Direct Recruitment of ‘Chief Financial Officer’ in the rank of Executive Director in Reserve Bank of India

RBI-Auction of Government of India Dated Securities July 6, 2015
July, 07th 2015

RBI/2015-16/118
Ref. No.IDMD/20/08.02.032/2015-16

July 6, 2015

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 has offered to sell (re-issue) four dated securities for notified amount of Rs 15,000 crore as per the following details:

Sr No Security Notified Amount 
(in Rs crore)
GoI Notification Auction Date Settlement date
1 7.35% GS 2024 3,000 4(2)-W&M/2015 dated
July 6, 2015.
July 10,2015
(Friday)
July 13, 2015
(Monday)
2 7.88% GS 2030 6,000 4(2)-W&M/2015(i) dated
July 6, 2015.
3 7.95% GS 2032 3,000 4(2)-W&M/2015(ii) dated
July 6, 2015.
4 8.17% GS 2044 3,000 4(2)-W&M/2015(iii) dated
July 6, 2015.
  Total 15,000      

The auction for securities will be price based auction using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions. 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. 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 weighted average rate of yield/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 July 10, 2015. 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 noon.

  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 July 10, 2015 and payment by successful bidders will be on July 13, 2015 (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 June 22, 2024; March 19, 2030; August 28, 2032 and December 01, 2044 respectively.

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

  10. The Stocks will be eligible for “When Issued” trading during the period July 7, 2015 to July 10, 2015 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

(P.K. Pati)
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.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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