RBI Announces Auction Of State Government Securities For Around Rs 23000 Crore

The RBI has announced auction of State Government Securities. A number of State Governments have offered to sell securities by way of auction, for an aggregate amount of Rs 22,984 Cr. (Face Value). The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 28, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 28, 2021 (Tuesday). The non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M. and the competitive bids should be submitted between 10.30 A.M. and 11.30 A.M. Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).

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