RBI Notifies Auction Of State Government Securities For Rs 9100 Crore
Capital MarketRBI has notified that some State Governments have offered to sell securities by way of an auction, for an aggregate amount of Rs 9100 Cr. (Face Value). These include Andhra Pradesh (Rs 1000 crore for 14 years), Assam (Rs 500 crore for 10 years), Bihar (Rs 1000 crore for 10 years), Gujarat (Rs 1000 crore for 10 years), Himachal Pradesh (Rs 500 crore for 12 years), Karnataka (Rs 1000 crore for Re-issue), Maharashtra ( Rs 3000 crore for Re-issue), Puducherry (Rs 100 crore for 6 years). The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 21, 2020 (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.
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