The Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹15,000 crore (face value). The security-wise details of the conversion/switch are given as under:

The market participants are required to place their bids in e-Kuber giving the amount of the source security and the price of the source and destination security expressed up to two decimal places.

The auction would be a multiple-price based auction, i.e. successful bids will get accepted at their respective quoted prices for the source and destination securities.

Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (e-Kuber) system on March 15, 2021 (Monday) between 10.30 a.m. and 11.30 a.m. The result of the auction will be announced on the same day and settlement will take place on March 16, 2021(Tuesday).

Government of India reserves the right to:

• Accept offers for less than the notified amount.

• Purchase marginally higher than the notified amount due to rounding-off effect.

• Accept or reject any or all the offers either wholly or partially without assigning any reason.

Operational guidelines for switch transactions and other details are given in the Annex.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1228