Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Latest Circulars »
Open DEMAT Account in 24 hrs
 Directions under Section 35 A read with section 56 of the Banking Regulation Act 1949 (As Applicable to Co-operative Societies) Pune Sahakari Bank Ltd., Shivajinagar, Pune
 Designation of 1 individual and 2 organisations under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the Fourth and First Schedule of the Act- Reg.
 Applications of Online Payment Aggregators received under the Payment and Settlement Systems Act, 2007 - Status
 RBI imposes monetary penalty on The Vaidyanath Urban Co-operative Bank Limited, Parli Vaijnath, Beed (Maharashtra)
  Finance Minister addresses the Central Board of Directors of Reserve Bank of India
  Finance Minister addresses the Central Board of Directors of Reserve Bank of India
 Issuance of PPIs to Foreign Nationals / Non-Resident Indians (NRIs) visiting India
 RBI statement on the health of Indian Banking sector
 Implementation of Section 51A of UAPA,1967: Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List (Amendments to 29 entries)
 Designation of 3 individuals as Terrorists under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act-Reg.
 Auction of Government of India Dated Securities Jan 23, 2023

RBI-Auction of State Government Securities for ` 8,450 crore on November 19, 2013
November, 18th 2013

The following State Governments have offered to sell 10 year securities by way of auction for an aggregate amount of ` 8,450 crore (Face Value). The State-wise break up is as follows:

Sr. No.

Name of the State

Notified amount
(` cr)

1.

Andhra Pradesh

1,750

2.

Goa

150

3.

Gujarat

1,000

4.

Haryana

470

5.

Kerala

750

6.

Maharashtra

1,500

7.

Nagaland

130

8.

Rajasthan

500

9.

Tamil Nadu*

1,200

10.

West Bengal

1,000

 

Total

8,450

*Govt. of Tamil Nadu  will have option to retain additional subscription upto a 
maximum of `300 cr over the notified amount.

The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on November 19, 2013 (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 November 19, 2013 (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 upto 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 19, 2013 (Tuesday) and payment by successful bidders will be made during banking hours on November 20, 2013 (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 20 and November 20 of each year till maturity. 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 : 2013-2014/1000

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting