Non-competitive bidding facility expands retail access in government securities auctions, with reserved allocation and weighted-average allotment. Notification reissues 8.24 per cent Government Stock, 2018 by a price based multiple price auction conducted by RBI, Mumbai, for a fixed nominal aggregate amount. The ten year stock pays semi annual interest and repays at par; successful bidders remit issue price plus accrued interest. A reserved portion of the issue is available under a non competitive bidding facility allotted at the weighted average yield of competitive bids, with pro rata treatment if oversubscribed and transfer of shortfall to the competitive portion; allotments are issued in SGL form and banks/PDs must manage client allocation, transfer and fee recovery.
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Non-competitive bidding facility expands retail access in government securities auctions, with reserved allocation and weighted-average allotment.
Notification reissues 8.24 per cent Government Stock, 2018 by a price based multiple price auction conducted by RBI, Mumbai, for a fixed nominal aggregate amount. The ten year stock pays semi annual interest and repays at par; successful bidders remit issue price plus accrued interest. A reserved portion of the issue is available under a non competitive bidding facility allotted at the weighted average yield of competitive bids, with pro rata treatment if oversubscribed and transfer of shortfall to the competitive portion; allotments are issued in SGL form and banks/PDs must manage client allocation, transfer and fee recovery.
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