Auction for Sale (Re-Issue) of Government Stocks

Auction for Sale (Re-Issue) of Government Stocks 


            Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” for a notified amount of  Rs. 2,000 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 using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 24, 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 July 24, 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 July 24, 2015 and payment by successful bidders will be on July 27, 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 vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

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Settlement of Outstanding CST Claim 

The Central Government has made provisions in the budget for the year 2014-15 towards the Central Sales Tax (CST) compensation. Government has released Rs. 10724.08 crore to the States/UTs towards balance of CST compensation for 2010-11 

Outstanding CST claim of the States for 2011-12 and 2012-13 are likely to be released in Financial Year 2015-16 and 2016-17 respectively. 

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today. 

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Revised Norms of it Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced 

As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns for A.Y. 2015-16 in these cases. 

Under this, a taxpayer may verify his return through Internet Banking or through Aadhaar based authentication process. 

For the convenience of small taxpayers having total income of Rs. 5 lakhs or below without any claim of refund, facility for generating Electronic Verification Code (EVC) has also been provided on the E-filing website of the Department. In such cases EVC will be sent to the Registered Email ID and Mobile Number of the taxpayer. Persons using this facility will not be required to submit a signed paper copy of ITR-V to the Income-tax Department. 

Taxpayers are permitted to use Digital Signature Certificate (DSC) to verify their e-filed Income-tax return. The electronic signature is a type of DSC and can be used to verify e-filed Income-tax return. As mentioned above, the taxpayers can use their Aadhaar number for e-filing of return as per the Aadhaar based authentication process. 

This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today. 

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Digital India Week 

NEGD, &Intel Reaches out to over 10 Lakh Students on Digital Wellness and Cyber Safety 

Aimed at enhancing awareness around the pervasive use of digital technology and training students on digital well-being, National e-Governance Division* (NeGD), in collaboration with Intel, concluded the Digital Wellness Online Challenge reached out to upto 10 lakh children , of which 9.28 lac children registered and cleared level 1 and 31.9 thousand children cleared level 2. Coverage is across each and every single state and UT pan India. The online quiz was designed to create a culture of digital wellness amongst children from classes 6 to 12 by promoting awareness on the benefits as-well-as the potential threats of Internet-based interactions and familiarizing students with different types of digital threats, consequences and protective measures. The 144 winners from across 36 states in India will be felicitated by Honorable Minister for Communications and IT in an event to be held in New Delhi later (date to be taken from Hon’ble MCIT’s office). 

Post the completion of the challenge, President and CEO-NeGD, said, “The young generation of today spends a considerable proportion of their time every day on the internet and the number is rapidly increasing. Many of these users lack familiarity to digital threats and possible safety measures. Hence there was a dire need of introducing a fun and interactive way of making these users acquainted with the challenges. We are extremely delighted to see the response we’ve received for this Challenge. We extend our heartiest congratulations to the winners of the Challenge and hope to make more such efforts”. 

The online quiz was available in Hindi and English. On successful completion of the quiz, the students were given an option to print/email their electronic certificates. The provision for four winners per state as ‘Digital Wellness Champions’ These winners would be invited to New Delhi by the Department of Electronics and Information Technology (DeitY)/NeGD and will be felicitated by the government in an award ceremony. 

The challenge successfully made children and youth aware of digital wellness and trained them to take informed decisions and be safe, respectful and responsible users of digital technology. It was designed as a fun engaging quiz activity for children to encourage participation. The Digital Wellness Challenge uses knowledge-based questions to provide information and scenario-based questions to encourage participants to think, decide and choose an action that ensures their online safety and security. Through learning by quizzing methodology, the challenge trained the children on building Digital Wellness and protecting themselves from threats often faced in digital and cyber space such as Cyber Bullying, Cyber predators, Gaming addiction, Identity theft, Copyright Infringement and Plagiarism, etc.