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TMI BlogAuction for Sale (Re-issue) of '8.24 per cent Government Stock, 2027'X X X X Extracts X X X X X X X X Extracts X X X X ..... ditions spelt out in this notification (called 'Specific Notification') as also the terms and conditions specified in the General Notification F. No. 4 (13)-W M/2008, dated October 8, 2008 issued by Government of India. Method of Issue 2 The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 in the manner as prescribed in paragraph 5.1 of the General Notification F. No. 4 (13)-W M/2008, dated October 8, 2008 by a price based auction using uniform price auction method. Allotment to Non-competitive Bidders 3. The Government Stock up to 5 % of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pe : With a view to encouraging wider participation and retail holding of Government securities it is proposed to allow participation on "non-competitive" basis in select auctions of dated Government of India (GoI)securities. Accordingly, non-competitive bids up to 5 percent of the notified amount will be accepted in the auctions of dated securities. The reserved amount will be within the notified amount. II. Eligibility: Participation on a non-competitive basis in the auctions of dated GOI securities will be open to investors who satisfy the following: 1. do not maintain current account (CA) or Subsidiary General Ledger (SGL) account with the Reserve Bank of India. Exceptions: Regional Rural Banks (RRBs) and Cooperative Banks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion forms to the PDO. The physical application may be a single bid for the aggregate amount of all the customers. Particulars of individual customer viz. name and amount shall be provided as an Annex to the bid. 3. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. The securities will be issued to the bank or PD against payment on the date of issue irrespective of whether the bank or PD has received payment from their clients. 4. In case the aggregate amount of bid is more than the reserved amount (5% of notified amount), pro rata allotment would be made. In case of partial allotments, it will be the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rued interest from the date of issue. 9. Modalities for obtaining payment from clients towards cost of the securities, accrued interest wherever applicable and brokerage/commission/service charges may be worked out by the bank or PD as per agreement with the client. It may be noted that no other costs such as funding costs should be built into the price or recovered from the client. V. Banks and PDs will be required to furnish information relating to operations under the Scheme to the Reserve Bank of India (Bank) as may be called for from time to time within the time frame prescribed by the Bank. VI. The aforesaid guidelines are subject to review by the Bank and accordingly, if and when considered necessary, the Scheme will be modifi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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