The Government of India have announced the repurchase of its Securities through reverse auction for an aggregate amount of Rs. 5,000 crore (face value). The security-wise details of the repurchase are given as under:

Sr. No	Nomenclature	Date of Maturity
1	6.07% Government Stock 2014	15-May-2014
2	10.00% Government Stock 2014	30-May-2014
3	7.32% Government Stock 2014	20-Oct-2014
4	10.50% Government Stock 2014	29-Oct-2014
5	7.56% Government Stock 2014	3-Nov-2014
6	11.83% Government Stock 2014	12-Nov-2014
7	10.47% Government Stock 2015	12-Feb-2015

The repurchase by the Government of India will be undertaken to prematurely redeem the Government Stocks by utilizing surplus cash balances. The above repurchase of the Government Stocks is purely ad hoc in nature. 

Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on March 24, 2014 (Monday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.

Reverse auction repurchase of government securities using multiple price bidding and electronic E Kuber submission on the announced auction date. Repurchase of Government securities through a reverse auction is announced to prematurely redeem specified Government Stocks by utilising surplus cash balances; the operation is ad hoc and targets listed securities maturing in 2014-2015. The repurchase will be conducted as a price based auction using the multiple price method, with bids submitted electronically via the Reserve Bank of India Core Banking Solution (E Kuber) within a designated bidding window and results declared the same day.