The Government of India have announced the repurchase of its Securities through reverse auction for an aggregate amount of ₹ 20,000 crore (face value). The security-wise details of the repurchase are given as under:

S. No.	Nomenclature	Date of maturity
1	7.59% Government Stock 2016	12-Apr-2016
2	10.71% Government Stock 2016	19-Apr-2016
3	7.02% Government Stock 2016	17-Aug-2016

The repurchase by the Government of India will be undertaken to redeem prematurely 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 February 04, 2016 (Thursday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day

Government securities repurchase via reverse auction: price-based multiple-price bidding to prematurely redeem stocks using surplus cash. Repurchase of specified government securities will be carried out through a Reverse Auction using a price-based multiple-price method to effect premature redemption of select stocks by utilizing surplus cash balances; bids must be submitted electronically through the designated core banking auction platform during the announced bidding window and auction results will be declared the same day.