Auction for Sale (Re-Issue) of Government Stocks

Auction for Sale (Re-Issue) of Government Stocks 

The Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, 

(ii)“7.88 per cent Government Stock 2030” for a notified amount of Rs. 6,000 crore (nominal) through price based auction, (iii) “7.95 per cent Government Stock 2032” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, and (iv) “8.17 per cent Government Stock 2044” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. The auctions will be conducted usingmultiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on June 26, 2015 (Friday).

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

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 June 26, 2015. 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 result of the auctions will be announced on June 26, 2015 and payment by successful bidders will be on June 29, 2015 (Monday).

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India (RBI), vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

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Media Persons requested to refrain from writing News Items/Articles based on Speculation about the Outcome of Selection Process for the Post of MD & CEO of Five Public Sector Banks (PSBs)

Some news items have appeared in certain section of media about the outcome of selection process for the post of MD & CEO of five Public Sector Banks (PSBs) recently. Most of these items are based on speculation which are far from truth. Such news items based on speculative names create unnecessary confusion not only among the candidates who are part of the selection process but also among the members of public at large. It may be mentioned that the process of selection is kept confidential and, therefore, the result can only be known after the approval of the Appointments Committee of Cabinet (ACC).

Therefore, it would be appreciated if the media persons refrain from writing news items/articles based on speculation.