Press Information Bureau

Government of India

Ministry of Finance

17-February-2016 19:52 IST

The Government of India have announced the repurchase of its Securities through reverse auction for an aggregate amount of ₹ 15,000 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 22, 2016 (Monday) 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

 

Repurchase of government securities via reverse auction using multiple-price bidding; electronic bids required through E-Kuber, same-day results. Repurchase of government securities is announced through a reverse auction to redeem specified government stocks prematurely by utilising surplus cash balances on an ad hoc basis. The auction is price-based using the multiple price method, with bids to be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) within the prescribed bid window; results will be announced the same day.