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Government of India Announces the Repurchase of Its Securities Through Reverse Auction for an Aggregate Amount of Rs. 20,000 Crore (Face Value)

Government of India have announced the repurchase of its Securities

Delhi

Last Updated : Sep 15 2014 | 1:31 PM IST

The Government of India have announced the repurchase of its Securities through reverse auction for an aggregate amount of Rs. 20,000 crore (face value).
The security-wise details of the repurchase are given as under:

Sr No	Nomenclature	Date of Maturity
1	7.32 per cent Government Stock 2014	20-Oct-2014
2	7.56 per cent Government Stock 2014	03-Nov-2014
3	6.49 per cent Government Stock 2015	08-June-2015
4	7.17 per cent Government Stock 2015	14-June-2015
5	7.38 per cent Government Stock 2015(Conv)	03-Sep- 2015

The repurchase by the Government of India will be undertaken to prematurely redeem the Government Stocks by utilizing surplus cash balances. The above repurchase of the Government Stocks is purely ad hoc in nature.
Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 16, 2014 (Tuesday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.