The government has decided to sell 12-year dated securities in the form of stock to the pubic by auction for an aggregate amount ₹150 crore. The auction will be conducted by the Reserve Bank of India, Mumbai, on January 22, Secretary to Government, Finance, V. Candavelou, said in a release.
Interested persons, firms, companies, corporate bodies, institutions, Provident Fund office, trusts, regional rural banks or cooperative banks might 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 (E-Kuber) available in the website www.rbi.org.in on January 22 between 10.30 a.m. and 11.30 a.m.
The competitive bids shall be submitted between 10.30 a.m. and noon on the same day.
The result of auction would be displayed by the RBI on the same day.
The successful bidders should deposit the amount by means of a banker’s cheque or demand draft payable at the Reserve Bank of India, Mumbai (Fort), or Chennai on January 23 before the close of banking hours, the release said.
