 "Power reforms may pressure states' budgets: RBI")
Government will sell four dated securities for Rs 15,000 crore on Friday using multiple price method, the Reserve Bank of India said on Monday.
"Up to 5% of the notified amount of the sale stocks will be allotted to eligible individuals and institutions according to the Scheme for the Non-Competitive Bidding Facility in the auction of Government Securities," the central bank said.
Both competitive and non-competitive bids for the auction has to be submitted in an electronic format on the RBI Core Banking Solution (E-Kuber) system on July 15.
The stocks will be eligible for trading when issued on July 12- July 15.
The result of auctions will be announced on July 15, and payment by successful bidders will be on July 18.
The securities to be sold are: 7.35% Government Stock 2024 (Rs 3,000 crore), 7.61% Government Stock 2030 (Rs 8,000 crore), 7.50% Government Stock 2034 (Rs 2,000 crore) and 8.17% Government Stock 2044 (Rs 2,000 crore).
