The Government has announced the sale of 10-year security in the form of stock to public through auction for an aggregate amount of Rs.20.38 crore.
In a press release, Finance Secretary Chandraker Bharti, said securities would be issued for a minimum amount of Rs.10,000 and in multiples of Rs.10,000 thereafter. The auction will be conducted by Reserve Bank of India at its Mumbai Office, Fort, Mumbai on March 10, Tuesday.
Interested persons, firms, institutions, may submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution. The government stock will bear interest at the rate determined by the RBI at the auction. Interest will be paid on September 11and March 11.
