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	8.07% Government Stock 2017	15-Jan-2017
2	7.49% Government Stock 2017 (Conv)	16-Apr-2017
3	8.07% Government Stock 2017-Jul	03-Jul-2017
4	7.99% Government Stock 2017	09-Jul-2017
5	7.46% Government Stock 2017	28-Aug-2017

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 November 07, 2016 (Monday) 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 using a multiple-price, electronic bidding process for early redemption. Repurchase of central Government securities will be effected through a reverse auction to allow premature redemption of specified government stocks using surplus cash balances. The mechanism is a price-based auction conducted by the multiple price method, with bids submitted electronically through the Reserve Bank of India's E-Kuber system during the prescribed bidding window and results announced the same day. The programme is described as ad hoc and applies to the listed securities with stated maturities.