Non-competitive bidding facility expands retail access to government security auctions at a uniform auction price. Re-issue sale of 7.56 per cent Government Stock, 2014 will be by price-based uniform price auction via Reserve Bank of India. Up to 5% of the notified amount is reserved for a Non-competitive Bidding Facility for investors without CA/SGL accounts (exceptions for certain banks), with single bids submitted through banks or PDs. Non-competitive allotment is at the weighted average yield/price from competitive bidding; oversubscription leads to pro rata allocation and shortfalls return to the competitive portion. Securities are issued in SGL form and banks/PDs must transfer holdings to clients and report operations to RBI.
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Non-competitive bidding facility expands retail access to government security auctions at a uniform auction price.
Re-issue sale of 7.56 per cent Government Stock, 2014 will be by price-based uniform price auction via Reserve Bank of India. Up to 5% of the notified amount is reserved for a Non-competitive Bidding Facility for investors without CA/SGL accounts (exceptions for certain banks), with single bids submitted through banks or PDs. Non-competitive allotment is at the weighted average yield/price from competitive bidding; oversubscription leads to pro rata allocation and shortfalls return to the competitive portion. Securities are issued in SGL form and banks/PDs must transfer holdings to clients and report operations to RBI.
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