Press Information Bureau

Government of India

Ministry of Finance

11-January-2016 11:16 IST

The Government of India has announced the repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” through reverse auction for an aggregate amount of ₹ 6,500 crore (face value).

The repurchase by the Government of India will be undertaken to redeem the Government Stocks prematurely 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 January 14, 2016 (Thursday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.

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DSM/KA

Inflation-linked bond repurchase announced via reverse auction; multiple-price electronic bids to be submitted on E-Kuber. Announcement of a government repurchase of 1.44 per cent Inflation Indexed Government Stock 2023 by reverse auction as an ad hoc early redemption to utilise surplus cash balances. The auction is price based using the multiple price method; bids must be submitted electronically through the Reserve Bank core banking system within the prescribed bidding window, and results will be declared the same day.