Market Stabilization Scheme repurchase of government stock establishes premature redemption and payment of accrued interest to accepted bidders. Repurchase under the Market Stabilization Scheme will be carried out via an RBI conducted repurchase auction in which banks and financial institutions whose offers are accepted will have their Government Stock prematurely redeemed; the Government will pay the accepted price(s) and accrued interest up to the day before redemption, interest ceases from the date of premature redemption, and unredeemed stock continues to bear the stated coupon payable half yearly until original redemption. Matters not provided are governed by the Government Securities Act and Regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Market Stabilization Scheme repurchase of government stock establishes premature redemption and payment of accrued interest to accepted bidders.
Repurchase under the Market Stabilization Scheme will be carried out via an RBI conducted repurchase auction in which banks and financial institutions whose offers are accepted will have their Government Stock prematurely redeemed; the Government will pay the accepted price(s) and accrued interest up to the day before redemption, interest ceases from the date of premature redemption, and unredeemed stock continues to bear the stated coupon payable half yearly until original redemption. Matters not provided are governed by the Government Securities Act and Regulations.
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