9911796707
TMI BlogAuction of 11 State Government Securities for Rs.9700.00 crore on December 18, 2012X X X X Extracts X X X X X X X X Extracts X X X X ..... Auction of 11 State Government Securities for Rs.9700.00 crore on December 18, 2012 - News and Press Release Dated:- 15-12-2012 - News - Auction of 11 State Government Securities for Rs.9700.00 crore on December 18, 2012 Date : 14 Dec 2012 The following Eleven State Governments have offered to sell dated securities by way of auction for an aggregate amount of Rs.9700.00 crore (Face Value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). The State-wise break up is as follows: Sr. No. State Notified Amount (Rs. Crore) Tenor of SDL (in Years) Type of Auction 1 Bihar 1000 10 Yield Based 2 Gujarat 1000 10 Yield Based 3 Jammu Kashmir 600 10 Yield Based 4 Jharkhand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 500 10 Yield Based 5 Karnataka 1000 10 Yield Based 6 Kerala 850 10 Yield Based 7 Maharashtra 1250 10 Yield Based 8 Punjab 500 10 Yield Based 9 Rajasthan 500 10 Yield Based 10 Uttarakhand 500 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Yield Based 11 West Bengal 2000 10 Yield Based Total 9700 * Govt of Maharashtra will have an option to retain additional subscription up to maximum of Rs.312.5 Cr. The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on December 18, 2012 (Tuesday). The Governme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Stock up to 10 % of the notified amount of the sale of each of the 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 (available on RBI website). Both competitive and non-competitive bids for the auction should be submitted in electronic forma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t on the Reserve Bank of India Core banking Solution (E-Kuber) system on December 18, 2012 (Tuesday). The non-competitive bids should be submitted between 10.30 A.M. and 11.30 A.M. and the competitive bids should be submitted between 10.30 A.M. and 12.00 noon. The yield percent per annum expected by the bidder should be expressed upto two decimal points. An investor can submit more than one comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etitive bid at different prices in electronic format on the Reserve Bank of India Core banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State. The Reserve Bank of India will determine the maximum yield/minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.10,000.00 and multiples of Rs.10,000.00 thereafter. The results of the auction will be announced on December 18, 2012 (Tuesday) and payment by successful bidders will be made during banking hours on December 19, 2012 (Wednesday) at Mumbai and at respective Regional Offices of RBI. The State Government Stocks will bear interest at the rates determined by RBI at the auctions. Interest will b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e paid half yearly on June 19 and December 19 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007. The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility. Ajit Prasad Assistant General Manager Press Release : 2012-2013/1001 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
