Executive Summary:
This notification announces the sale and reissue of Government Stocks by the Government of India, with auctions conducted by the Reserve Bank of India (RBI). The auction is scheduled for July 26, 2019, with payment due on July 29, 2019. It also outlines a scheme for non-competitive bidding to encourage wider participation in government securities.
Key Points / Main Content:
Government Stock Sale/Reissue:
* The Government of India is selling/reissuing multiple Government Stocks with varying maturity dates: July 15, 2021; April 08, 2026; December 07, 2031; September 15, 2039; and June 17, 2059.
* The total notified amount is Rs 17,000 crore, with the government retaining the option to retain an additional subscription of up to Rs 1,000 crore against any one or more of the above securities.
* The stocks will be sold through the Reserve Bank of India (RBI), Mumbai Office.
Auction Details:
* The auction will be conducted by the Reserve Bank of India on July 26, 2019.
* Bids must be submitted electronically via the RBI's E-Kuber system.
* Non-competitive bids: 11:30 a.m. to 12:00 noon.
* Competitive bids: 11:30 a.m. to 12:30 p.m.
* Payment by successful bidders is due on July 29, 2019.
Interest and Repayment:
* Interest will accrue on the nominal value of the Stock and will be paid semi-annually.
* The Stock will be repaid at par on the date of maturity.
Non-Competitive Bidding Scheme:
* Up to 5% of the notified amount is reserved for non-competitive bids.
* Eligible bidders: Those who do not maintain a current account or SGL account with RBI (with exceptions for RRBs and Cooperative Banks).
* Single bid limit: Not more than two crore face value per auction.
* Bids must be submitted through a bank or PD offering the scheme.
* Minimum bid amount: Rs 10,000 face value and in multiples thereof.
* Allotment will be at the weighted average rate of yield/price from the competitive bidding.
* Banks or PDs can recover up to six paise per 100 as brokerage/commission/service charges.
Impact Analysis:
Investors:
* Impact: Opportunity to invest in government securities through competitive or non-competitive bidding.
* Action Required: If eligible for non-competitive bidding, submit bids through a bank or PD. Successful bidders must make payment on July 29, 2019.
Banks and Primary Dealers (PDs):
* Impact: Act as intermediaries for non-competitive bids and participate in the auction.
* Action Required: Facilitate non-competitive bidding for their constituents, submit consolidated bids, and ensure securities are passed on to clients within five working days. Furnish information relating to operations under the Scheme to the Reserve Bank of India Bank as may be called for from time to time
Reserve Bank of India (RBI):
* Impact: Responsible for conducting the auction and managing the issuance of government stocks.
* Action Required: Conduct the auction on July 26, 2019, display the results, and credit securities to successful bidders' accounts.
Government of India:
* Impact: Raises funds through the sale and reissue of government stocks.
* Action Required: Oversee the auction process and manage the government's debt.
Key Entities Referenced
Reserve Bank of India: The central bank of India, involved in conducting auctions and displaying results.
Mumbai, Maharashtra: Location of the Reserve Bank of India office where the auction is conducted.
Government of India: The issuer of the Government Stocks being auctioned.
Ministry of Finance: The ministry responsible for the Department of Economic Affairs and the Budget Division, which issued the notification.
6.17 GS 2021: One of the Government Stocks being sold/reissued with a coupon rate of 6.17% and maturing in 2021.
7.27 GS 2026: One of the Government Stocks being sold/reissued with a coupon rate of 7.27% and maturing in 2026.
GoI FRB 2031: One of the Government Stocks being sold/reissued; a Floating Rate Bond maturing in 2031.
7.62 GS 2039: One of the Government Stocks being sold/reissued with a coupon rate of 7.62% and maturing in 2039.
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EXTRAORDINARY
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PART I—Section 1
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PUBLISHED BY AUTHORITY
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No. 215] NEW DELHI, MONDAY, JULY 22, 2019/ASHADHA 31, 1941
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:6)(cid:6)ंं(cid:6)(cid:6)ंं ााााललललयययय
((((आआआआ(cid:2)(cid:2)(cid:2)(cid:2)थथथथकककक ककककाााायययय (cid:7)(cid:7) (cid:7)(cid:7)ििििववववभभभभाााागगगग))))
((((बबबबजजजजटटटट (cid:8)(cid:8)(cid:8)(cid:8)भभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 22 जुलाई, 2019
ससससररररककककााााररररीीीी (cid:15)(cid:15)(cid:15)(cid:15)टटटटॉॉॉॉकककक ((((जजजजीीीी एएएएसससस)))) कककक(cid:18)(cid:18)(cid:18)(cid:18) ििििबबबब(cid:20)(cid:20)(cid:20)(cid:20)(cid:18)(cid:18)(cid:18)(cid:18) ((((पपपपननननुुुु (cid:24)(cid:24)(cid:24)(cid:24)ननननगगगगमम(cid:26)(cid:26)मम(cid:26)(cid:26) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
एएएएफफफफ.... सससस...ंं.ंं 4444((((6666))))----डडडड(cid:28)(cid:28)(cid:28)(cid:28)(cid:29)(cid:29) (cid:29)(cid:29) यय यय एएूूएएूू डडंंडडंं एएएएमममम////2222000011119999.—भारत सरकार एतद~(cid:1)ारा नीचे (cid:9)दए गए अनुसार सरकारी (cid:17)टॉक, क(cid:20) िब(cid:23)(cid:20)
((((पपपपननननुुुु (cid:24)(cid:24)(cid:24)(cid:24)ननननगगगगमम(cid:26)(cid:26)मम(cid:26)(cid:26) )))) अिधसूिचत करती ह।ै
(cid:24)ितभिू त का नाम मलू िनगम(cid:30) क(cid:20) मलू अविध प"रप#ता क(cid:20) नीलामी कान ीलामी क(cid:20) अिधसिू चत
तारीख (वष(cid:30)-माह-(cid:9)दन) तारीख आधार िविध रािश (करोड़
म$)
6.17% सरकारी (cid:24)ितभिू त
15 जुलाई, 2019 02-00-00 15 जुलाई, 2021 मू&य िविवध 3,000
2021
7.27% सरकारी (cid:24)ितभिू त
08 अ(cid:24)लै , 2019 07-00-00 08 अ(cid:24)लै , 2026 मू&य िविवध 3,000
2026
भारत सरकार का अ(cid:17)थ ायी दर 07 मई, 2018 13-07-00 07 (cid:9)दसंबर, 2031 मू&य िविवध 5,000
वाला बांड 2031
7.62% सरकारी (cid:24)ितभिू त 15 िसत+ब र,
08 अ(cid:24)लै , 2019 20-05-07 मू&य िविवध 2,000
2039 2039
7.63% सरकारी (cid:24)ितभिू त
06 मई, 2019 40-01-11 17 जून, 2059 मू&य िविवध 4,000
2059
कुल अिधसिू चत रािश के अ.यधीन 17,000 करोड़ 1पए क(cid:20) सीमा तक भारत सरकार, उपयु(cid:30)3 त एक या अिधक (cid:24)ितभिू तय4 के
प"रपे5य म$ (cid:24)6य के म $ 1,000 करोड़ 1पए तक के अित"र7 अिभदान का िवक&प बनाए रखेगी। यह िब(cid:23)(cid:20) इस अिधसूचना
(िजस े 'िविश:ट अिधसूचना' कहा गया ह)ै म$ उि&लिखत शत; के अधीन होगी। इस (cid:17)टॉक क(cid:20) िब(cid:23)(cid:20) भारतीय "रजव(cid:30) ब?क, मुंबई
3748 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
कायाल(cid:30) य, फोट(cid:30), मुंबई-400001 के मा.यम स े भारत सरकार (cid:1)ारा जारी सामाAय अिधसूचना एफ.सBं या 4(2)-डD&यू एEड
एम/2018, तारीख 27 माच (cid:30)2018 म $िनFदG शत; के अधीन क(cid:20) जाएगी।
अअअअ िििितततत(cid:15)(cid:15)(cid:15)(cid:15)पपपपधधधध#### बबबबोोोोललललीीीीददददाााातततताााा&&&& ककककोोोो आआआआबबबबंटंटंटंटनननन
2. सरकारी (cid:24)ितभूितय4 क(cid:20) नीलािमय4 म $ अ(cid:24)ित(cid:17)पधH बोली दने े क(cid:20) सिु वधा क(cid:20) सलं I (cid:17)क(cid:20)म (अनुबंध) के अनुसार, िब(cid:23)(cid:20) क(cid:20)
अिधसिू चत रािश का 5 (cid:24)ितशत तक सरकारी (cid:17)टॉक पाJ K यि7य4 और सं(cid:17)थाL को आबं"टत (cid:9)कया जाएगा ।
ननननीीीीललललााााममममीीीी ककककाााा (cid:15)(cid:15)(cid:15)(cid:15)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय "रजव(cid:30) ब?क, मुंबई कायाल(cid:30) य, फोट(cid:30), मुंबई-400001 (cid:1)ारा 26 जुलाई, 2019 को संचािलत क(cid:20) जाएगी।
नीलामी हते ु बोिलया ं भारतीय "रजव(cid:30) ब?क कोर ब?Nकग सो&यशू न (ई-कुबेर) (cid:24)णाली संबंधी इले3Pॉिनक (cid:24)पJ म $ 26 जुलाई,
2222000011119999 को (cid:24)(cid:17)तुत क(cid:20) जानी चािहए। अ(cid:24)ित(cid:17)पधH बोिलया ं पूवा(cid:30)Qन 11.30 बजे से दोपहर 12.00 बजे के बीच और (cid:24)ित(cid:17)पधH
बोिलया ंपूवा(cid:30)Qन 11.30 बजे स ेम.याQन 12.30 बजे के बीच (cid:24)(cid:17)तुत क(cid:20) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:26)(cid:26)िि(cid:26)(cid:26)ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:17)टॉक, भारतीय "रजव(cid:30) ब?क (cid:1)ारा जारी (cid:9)दशािनदशR 4 के अनसु ार, 'कब िनगि(cid:30) मत’ कारोबार के िलए पाJ होगा।
ििििननननगगगगमममम(cid:26)(cid:26)(cid:26)(cid:26) कककक(cid:18)(cid:18)(cid:18)(cid:18) ततततााााररररीीीीखखखख औऔऔऔरररर (cid:15)(cid:15)(cid:15)(cid:15)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प"रणाम भारतीय "रजव(cid:30) ब?क (cid:1)ारा अपन े फोट(cid:30) ि(cid:17)थत मुंबई कायाल(cid:30) य म $ 26 जुलाई, 2019 को (cid:24)दTशत (cid:9)कया
जाएगा। सफल बोलीदाताL (cid:1)ारा भुगतान 29 जुलाई, 2019 अथात(cid:30) ् पुनTनग(cid:30)म क(cid:20) तारीख को (cid:9)कया जाएगा। (cid:17)टॉक के िलए
भुगतान म $नीलामी म$ आबं"टत (cid:17)टॉक के अं(cid:9)कत मू&य पर, मलू िनगम(cid:30) /अंितम कूपन भुगतान क(cid:20) तारीख स े (cid:24)ोVभूत Dयाज दये होन े
क(cid:20) तारीख तक (cid:24)ोVभतू Dयाज शािमल होगा जैसा (cid:9)क पैरा 6 म $तािलका म$ उि&लिखत ह।ै
(cid:28)(cid:28)(cid:28)(cid:28)ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:15)(cid:15)(cid:15)(cid:15)टटटटॉॉॉॉकककक ककककाााा पपपपननननुुुु भभभभगगु(cid:26)ु(cid:26)गगु(cid:26)ु(cid:26) तततताााानननन
6. मूल Tनग(cid:30)म/अंितम कूपन भुगतान क(cid:20) तारीख स े (cid:17)टॉक के अ(cid:9)ं कत मू&य पर Dयाज (cid:24)ोVभूत होगा तथा इसका भुगतान
अXव(cid:30) ाTषक आधार पर (cid:9)कया जाएगा। (cid:17)टॉक का पनु भु(cid:30)गतान प"रप#ता क(cid:20) तारीख पर सममू&य पर (cid:9)कया जाएगा।
ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअ अअ ििंंििंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन ,,,,ककककसससस ततततााााररररीीीीखखखख ततततकककक ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:18)(cid:18)(cid:18)(cid:18) ततततााााररररीीीीखखखख
((((%%%%)))) कककक(cid:18)(cid:18)(cid:18)(cid:18) ततततााााररररीीीीखखखख ोोोो----भभभभततूूततूू (cid:28)(cid:28)(cid:28)(cid:28)ययययााााजजजज ददददययेेययेे हहहह ैैैै ((((ततततााााररररीीीीखखखख////ममममााााहहहह))))
6.17 नया (cid:17) टॉक 28 जुलाई, 2019 15 जनवरी और 15
6.17% सरकारी (cid:24)ितभिू त 2021
जुलाई
7.27 नया (cid:17) टॉक 28 जुलाई, 2019 08 अ3 तूबर और 08
7.27% सरकारी (cid:24)ितभिू त 2026
अ(cid:24)ैल
भाoसo का अ(cid:17)थ ायी दर वाला बांड प"रवतन(cid:30) ीय* 07 जून, 2019 28 जुलाई, 2019 07 (cid:9)दसंबर और 07 जून
2031
7.62% सरकारी (cid:24)ितभिू त 2039 7.62 नया (cid:17) टॉक 28 जुलाई, 2019 15 िसत+ब र और 15 माच (cid:30)
7.63% सरकारी (cid:24)ितभिू त 2059 7.63 17 जून, 2019 28 जुलाई, 2019 17 (cid:9)दसंबर और 17 जून
* भारत सरकार का अ(cid:7)थ ायी दर वाला बांड 2031:
(i) प"रवत(cid:30)नीय दर पर Dय ाज का भुगतान अध(cid:30)वाTषक आधार पर (cid:9)कया जाएगा।
(ii) अ(cid:17)थायी दर वाले बांड क(cid:20) कूपन दर होगी जो मूल दर होगी तथा यह 182 (cid:9)दवसीय राजकोषीय ]िं डय4 क(cid:20) िपछली 3
नीलािमय4 (दर िनधा"(cid:30) रत करन ेके (cid:9)दन से) क(cid:20) भा"रत औसत आय (डD&यूएवाई) तथा नीलामी तंJ (cid:1)ारा 100 आधार िबAद ु
के िनयत (cid:17)(cid:24)ेड के समतु&य होगी। यह (cid:17)(cid:24)ेड बांड क(cid:20) अविध म$ िनयत रहगे ा। अंतTनिहत आय क(cid:20) गणना वष(cid:30) म $ 365 (cid:9)दन को
.य ान म $रखकर क(cid:20) जाएगी।
(iii) बांड4 क(cid:20) समयाविध के दौरान भारत सरकार क(cid:20) 182 (cid:9)दवसीय राजकोषीय ]िं डय4 क(cid:20) नीलािमय4 को बंद कर (cid:9)दए
जान े क(cid:20) ि(cid:17)थित म,$ कूपन क(cid:20) मलू दर, अध(cid:30)वाTषक कूपन अविध क(cid:20) श1ु आत स ेपहले के तीन नॉन-"रपोcटग श(cid:23)ु वार4 को, छह¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
माह तक भारत सरकार (cid:24)ितभिू त(य4) के िलए (cid:24)चिलत प"रप#ता दर आय (वाईटीएम) क(cid:20) औसत होगी। य(cid:9)द (cid:9)कसी श(cid:23)ु वार
को कोई िवशेष छुdी/छु"dयां ह,? तो प"रप#ता पर आय क(cid:20) दर$ वही ह4गी जो िपछल ेकाय(cid:30) (cid:9)दवस को थी।
(iv) कूपन अविध 7 (cid:9)दसंबर, 2019 स े6 जनू , 2019 के िलए आधार दर 6.27 (cid:24)ितशत (cid:24)ित वष(cid:30) ह।ै तदनसु ार, इस अविध के
िलए एफआरबी 2031 पर Dयाज दर 7.27 (cid:24)ितशत (cid:24)ित वष (cid:30)होगी। अनुवतH वष; के दौरान बांड4 पर अध(cid:30)वाTषक gप से दये
Dय ाज दर, संबंिधत अध(cid:30)वाTषक कूपन अविध क(cid:20) श1ु आत से पूव(cid:30) भारतीय "रजव (cid:30)ब?क (cid:1)ारा घोिषत क(cid:20) जाएगी।
भारत के राiपित के आदशे स,े
अरjवद kीवा(cid:17)तव, संयु7 सिचव
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी ििििततततभभभभििििूूूूततततयययय1111 कककक(cid:18)(cid:18)(cid:18)(cid:18) ननननीीीीललललााााममममीीीी मममम 2222अअअअ िििितततत(cid:15)(cid:15)(cid:15)(cid:15)पपपपधधधध#### बबबबोोोोललललीीीी ससससििुुििुुववववधधधधाााा (cid:15)(cid:15)(cid:15)(cid:15)कककक(cid:18)(cid:18)(cid:18)(cid:18)मममम
IIII.... ककककाााायययय33(cid:26)(cid:26)33(cid:26)(cid:26) (cid:6)(cid:6)ेे(cid:6)(cid:6)ेे :::: सरकारी (cid:24)ितभूितय4 क(cid:20) lापक भागीदारी और खुदरा धा"रता को (cid:24)ो6साहन दने े क(cid:20) दिृ G स े भारत सरकार क(cid:20)
(cid:9)दना(cid:9)ं कत (cid:24)ितभिू तय4 क(cid:20) चयिनत नीलािमय4 म $ "अ(cid:24)ित(cid:17)पधH" आधार पर भागीदारी क(cid:20) अनुमित दने े का (cid:24)(cid:17)ताव (cid:9)कया गया
ह।ै तVनसु ार, (cid:9)दना(cid:9)ं कत (cid:24)ितभिू तय4 क(cid:20) नीलािमय4 म $ अिधसिू चत रािश के 5 (cid:24)ितशत तक क(cid:20) अ(cid:24)ित(cid:17)पधH बोिलया ं (cid:17)वीकार
क(cid:20) जाएंगी। (cid:24)ारिnत रािश अिधसिू चत रािश के अAतग(cid:30)त होगी।
IIIIIIII.... पपपपाााा(cid:6)(cid:6)(cid:6)(cid:6)तततताााा :::: भारत सरकार क(cid:20) (cid:9)दना(cid:9)ं कत (cid:24)ितभिू तय4 क(cid:20) नीलािमय4 म $ अ(cid:24)ित(cid:17)पधH आधार पर ऐस े िनवेशक4 के िलए
भागीदारी खुली होगी जो िनoिलिखत शत; को पूरा करत ेह?:
1. जो भारतीय "रजव(cid:30) ब?क के पास चाल ूखाता (सीए) अथवा सहायक सामाAय बही (एसजीएल) खाता नहp रखत ेह;?
अअअअपपपपववववाााादददद:::: nेJीय qामीण ब?क4 (आरआरबी) और सहकारी ब?क4 को उनके सािं विधक दािय6व4 के दिृGगत इस (cid:17)क(cid:20)म के
अधीन शािमल (cid:9)कया जाएगा।
2. जो (cid:24)ित नीलामी दो करोड़ 1पए (अं(cid:9)कत मू&य) से अनिधक रािश के िलए एक ही बोली लगाते ह;?
3. जो यह (cid:17)क(cid:20)म (cid:24)दान करन ेवाल े (cid:9)कसी एक ब?क अथवा (cid:24)ाथिमक डीलर के मा.यम स ेअपनी बोली अ(cid:9)(cid:10)य(cid:12) (cid:13)प स े
(cid:24)(cid:17)तुत करत ेह।?
अअअअपपपपववववाााादददद:::: ऐस े nेJीय qामीण ब?क (आरआरबी) तथा सहकारी ब?क जो भारतीय "रजव(cid:30) ब?क म $ एस.जी.एल.खाता और
चाल ूखाता रखत ेह,? अपनी अ(cid:24)ित(cid:17)पधH बोिलय4 को (cid:24)6यn gप से (cid:24)(cid:17)तुत करन ेके िलए पाJ ह4गे।
IIIIIIIIIIII.... 4444ाााापपपपककककतततताााा:::: उपयु(cid:30)7 शत; के अधीन "अ(cid:24)ित(cid:17)पधH" आधार पर फम;, कंपिनय4, िनगिमत िनकाय4, सं(cid:17)थाL, भिव:य
िनिधय4, Aयास4 और भारतीय "रजव(cid:30) ब?क (cid:1)ारा यथा-िनधा(cid:30)"रत (cid:9)कसी अAय कंपनी सिहत (cid:9)कसी भी lि7 के िलए भागीदारी
खुली ह।ै बोली दने े क(cid:20) Aयूनतम रािश 10,000 1पए (अं(cid:9)कत मू&य) और उसके बाद 10,000 1पए के गुणज4 म $ होगी जैसा
अब तक (cid:9)दना(cid:9)ं कत (cid:17)टॉक के िलए ह।ै
IIIIVVVV.... अअअअ5555यययय चचचचााााललललननननाााा7777ममममकककक ,,,,ददददशशशशााााििििननननददददशश99शश99 ::::
1111.... खुदरा िनवेशक के िलए उस ब?क अथवा (cid:24)ाथिमक डीलर, िजनके मा.यम से वे भाग लने ा चाहत े ह,? के पास एक
संघटक सहायक सामाAय बही (सीएसजीएल) खाता रखना अिनवाय (cid:30) होगा। कोई भी िनवशे क इस (cid:17)क(cid:20)म के अधीन
(cid:9)दना(cid:9)ं कत (cid:24)ितभिू त क(cid:20) (cid:9)कसी नीलामी म $केवल एक बोली म $भाग ले सकता ह।ै इस आशय का वचन (cid:9)क िनवेशक केवल
एक बोली द ेरहा ह,ै ब?क अथवा (cid:24)ाथिमक डीलर (cid:1)ारा (cid:24)ाr (cid:9)कया जाना और "रकाड (cid:30)म $रखा जाना होगा।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
2. अपन ेqाहक4 से (cid:24)ाr पsे आडर(cid:30) के आधार पर (cid:24)6येक ब?क अथवा (cid:24)ाथिमक डीलर भारतीय "रजव(cid:30) ब?क कोर ब?Nकग
सो&यूशन (ई-कुबेर) (cid:24)णाली सबं ंधी इले3Pॉिनक (cid:24)पJ म $ अपने qाहक4 क(cid:20) ओर स े एक एकल समे(cid:9)कत अ(cid:24)ित(cid:17)पधH
बोली (cid:24)(cid:17)तुत करेगा। असाधारण प"रि(cid:17)थितय4, जैसे भारतीय "रजव(cid:30) ब?क कोर ब?Nकग सो&यूशन (ई-कुबेर) (cid:24)णाली म $
सामाAय गड़बड़ी को छोड़कर, भौितक gप म $अ(cid:24)ित(cid:17)पधH बोली (cid:17)वीकार नहp क(cid:20) जाएगी।
3. ब?क अथवा (cid:24)ाथिमक डीलर को अ(cid:24)ित(cid:17)पधH खंड के अधीन आबंटन (cid:24)ितलाभ/क(cid:20)मत क(cid:20) उस भारािं शत औसत
दर पर होगा, जो (cid:24)ित(cid:17)पधH बोली दने े के आधार पर नीलामी म $ सामन ेआएगी। इस बात पर .यान (cid:9)दए िबना (cid:9)क ब?क
अथवा (cid:24)ाथिमक डीलर न े अपने qाहक4 स े भुगतान (cid:24)ाr कर िलया ह ै या नहp, िनगम(cid:30) क(cid:20) तारीख को भुगतान (cid:24)ाr
करके ब?क या (cid:24)ाथिमक डीलर को (cid:24)ितभिू तया ंजारी क(cid:20) जाएंगी।
4. ऐस े मामले म,$ जहा ं बोली क(cid:20) रािश (cid:24)ारिnत रािश (अिधसूिचत रािश के 5 (cid:24)ितशत) से अिधक ह ै यथानुपात
आबंटन (cid:9)कया जाएगा। आंिशक आबंटन4 के मामल ेम,$ यह ब?क अथवा (cid:24)ाथिमक डीलर4 का दािय6व होगा (cid:9)क वह अपन े
qाहक4 को (cid:24)ितभूितय4 का उिचत आबंटन एक पारदशH तरीके स ेकर$।
5. ऐस ेमामल ेम $जहां बोली रािश (cid:24)ारिnत रािश स ेकम हो, कमी को (cid:24)ित(cid:17)पधH भाग म $शािमल (cid:9)कया जाएगा।
6. (cid:24)ितभिू त को भारतीय "रजव(cid:30) ब?क (cid:1)ारा केवल एसजीएल gप म $ जारी (cid:9)कया जाएगा। भारतीय "रजव(cid:30) ब?क इस े या
तो ब?क अथवा (cid:24)ाथिमक डीलर के मुBय एसजीएल खात े अथवा सीएसजीएल खात े म $ जमा करेगा,जैसा(cid:9)क उनके (cid:1)ारा
िनदशR (cid:9)दया गया ह।ै मुBय एसजीएल खात ेम $जमा करन ेक(cid:20) सुिवधा एकमाJ उन िनवेशक4 क(cid:20) सेवा के (cid:24)योजनाथ (cid:30)ह ैजो
उनके घटक नहp ह।? अतः ब?क अथवा (cid:24)ाथिमक डीलर4 को अ(cid:24)ित(cid:17)पधH बोिलय4 क(cid:20) िनिवदा दते े समय उनके एसजीएल
खात े और सीएसजीएल खात े म$ जमा होन े वाली रािशय4 (अं(cid:16)कत मू(cid:20)य) को (cid:17)प: ट gप से दशा(cid:30)ना होगा। बाद म $ िनवेशक
के अनरु ोध पर मBु य एसजीएल खात ेस ेवा(cid:17)तिवक gप म $क(cid:20) गई सुपुदग(cid:30) ी (cid:17)वीकाय (cid:30)ह।ै
7. यह ब?क अथवा (cid:24)ाथिमक डीलर का दािय6व ह ै (cid:9)क वह qाहक को (cid:24)ितभिू तया ं ह(cid:17)तांत"रत करे। असाधारण
प"रि(cid:17)थितय4 को छोड़कर, qाहक4 को (cid:24)ितभिू तय4 का अंतरण िनगम(cid:30) क(cid:20) ितिथ स े पांच काय(cid:30) (cid:9)दवस4 के भीतर पूरा
(cid:9)कया जाएगा।
8. ब?क अथवा (cid:24)ाथिमक डीलर अपन े qाहक4 को यह सेवा दने े के िलए छह पैस े (cid:24)ित सौ 1पए तक
दलाली/कमीशन/सेवा (cid:24)भार के gप म $ वसूल कर सकत े ह।? ऐसी क(cid:20)मत िब(cid:23)(cid:20) मू&य म $ शािमल क(cid:20) जा सकती ह ै या
qाहक4 स े अलग स े वसूल क(cid:20) जा सकती ह।ै ऐस े मामल े म $ जहा ं (cid:24)ितभूितय4 का अंतरण (cid:24)ितभिू त क(cid:20) िनगम(cid:30) ितिथ के
बाद (cid:24)भावी होता हो, ब?क या (cid:24)ाथिमक डीलर को qाहक (cid:1)ारा दये (cid:24)ितफल रािश म $ िनगम(cid:30) ितिथ स े उपिचत Dयाज
शािमल होगा।
9. (cid:24)ितभिू तय4 क(cid:20) लागत, उपिचत Dयाज जहा ं भी लाग ू हो, तथा दलाली/कमीशन/सेवा (cid:24)भार4 के िलए qाहक4 स े
भुगतान (cid:24)ाr करन ेक(cid:20) काय-(cid:30) (cid:24)णाली,ब?क या (cid:24)ाथिमक डीलर (cid:1)ारा qाहक के साथ क(cid:20) गई सहमित के अनसु ार तैयार क(cid:20)
जाएगी। यह उ&लेखनीय ह ै(cid:9)क (cid:9)कसी अAय लागत, जैस ेिनिधकरण लागत को मू&य म $शािमल नहp (cid:9)कया जाना चािहए
या qाहक4 से वसूल नहp (cid:9)कया जाना चािहए।
VVVV.... ब?क4 और (cid:24)ाथिमक डीलर4 को भारतीय "रजव(cid:30) ब?क (ब?क) (cid:1)ारा समय-समय पर मांगी गई योजना के तहत संचालन4 स े
संबंिधत सूचना िनधा(cid:30)"रत समय सीमा के अंतग(cid:30)त ब?क को (cid:24)(cid:17)तुत करनी होगी।
VVVVIIII.... ऊपर उि&लिखत (cid:9)दशािनदशR ब?क (cid:1)ारा समीnा के अधीन ह ै और तVनुसार, जब भी आवtयकता होगी, योजना को
संशोिधत (cid:9)कया जाएगा।
----------------------------¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 22nd July, 2019
Auction for Sale (Re-issue) of Government Stock (GS)
F. No. 4(6)W&M/2019.—Government of India(GoI) hereby notifies sale (Re-issue) of the following
Government Stocks:
Date of Tenure Date of Notified Amount
Name of the Security Base Method
Original Issue (yy-mm-dd) Maturity (in Rs Crore)
6.17% GS 2021 July 15, 2019 02-00-00 July 15, 2021 Price Multiple 3,000
7.27% GS 2026 Apr 08, 2019 07-00-00 Apr 08, 2026 Price Multiple 3,000
GoI FRB 2031 May 07, 2018 13-07-00 Dec. 07, 2031 Price Multiple 5,000
7.62% GS 2039 Apr 08, 2019 20-05-07 Sep 15, 2039 Price Multiple 2,000
7.63% GS 2059 May 06, 2019 40-01-11 Jun 17, 2059 Price Multiple 4,000
Subject to the limit of `17000 Cr, being total notified amount, GoI will have the option to retain additional subscription
up to `1000 Cr each against any one or more of the above securities. The sale will be subject to the terms and conditions
spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India,
Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F. No. 4(2)–
W&M/2018, dated March 27, 2018 issued by Government of India.
Allotment to Non-competitive Bidders
2. 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 in the Auctions of Government Securities
(Annex).
Place and date of auction
3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai - 400 001 on July 26, 2019.
Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-
Kuber) system on July 26, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and
the competitive bids should be submitted between 11.30 a.m. and 12.30 pm.
When Issued Trading
4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of
India.
Date of issue and payment for the stock
5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on July 26, 2019.
The payment by successful bidders will be on July 29, 2019 i.e. the date of re-issue. The payment for the stocks will
include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last
coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6.
Payment of Interest and Re-payment of Stock
6. Interest will accrue on the nominal value of the Stock from the date of original issue / last coupon payment and will
be paid half yearly. The Stock will be repaid at par on date of maturity.
Name of the Coupon rate Date of Last Coupon Date upto which Date of Coupon
Security (%) payment accrued interest is due payments (month /
date)
6.17% GS 2021 6.17 New Stock July 28, 2019 Jan 15 and Jul 15
7.27% GS 2026 7.27 New Stock July 28, 2019 Oct0 8 and Apr 086 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
GoI FRB 2031 Variable* June 07, 2019 July 28, 2019 Dec. 07 and June 07
7.62% GS 2039 7.62 New Stock July 28, 2019 Sep 15 and Mar 15
7.63% GS 2059 7.63 Jun 17, 2019 July 28, 2019 Dec 17 and Jun 17
* GoI FRB 2031:
(i) The interest at a variable rate will be paid half-yearly.
(ii) The Floating Rate Bond will carry the coupon, which will have a base rate, equivalent to Weighted Average Yield
(WAY) of last 3 auctions (from the rate fixing day) of 182 Day T-Bills plus a fixed spread, of 100 basis points as decided
by way of auction mechanism. The spread will be fixed throughout the tenure of the bond. The implicit yields will be
computed by reckoning 365 days in a year.
(iii) In the event of Government of India 182-day Treasury Bill auctions being discontinued during the currency of the
Bonds, the base rate of the coupon will be the average of Yield to Maturity (YTM) rates prevailing for six month
Government of India Security/ies as on the last three non-reporting Fridays prior to the commencement of the semi-
annual coupon period. In case particular Friday/s is/are holiday/s, the yield to maturity rates as on the previous working
day shall be taken.
(iv) The base rate for the coupon period June 7, 2019 to December 6, 2019 is 6.27 per cent per annum. Accordingly, the
rate of interest on FRB 2031 for this period shall be 7.27 per cent per annum. The rate of interest payable half yearly on
the Bonds during the subsequent years shall be announced by the Reserve Bank of India before the commencement of the
relative semi-annual coupon period.
By Order of the President of India,
ARVIND SHRIVASTAVA, Jt. Secy.
ANNEX
Scheme for Non-competitive Bidding Facility in
the Auctions of Government Securities
I. Scope: 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 per cent 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 shall be covered under this Scheme in view of
their statutory obligations.
2. make a single bid for an amount not more than ` two crore (face value) per auction
3. submit their bid indirectly through any one bank or PD offering this Scheme.
Exceptions: Regional Rural Banks (RRBs) and Cooperative Banks that maintain SGL account and current account with
the Reserve Bank of India shall be eligible to submit their non competitive bids directly.
III. Coverage: Subject to the conditions mentioned above, participation on “non-competitive” basis is open to any person
including firms, companies, corporate bodies, institutions, provident funds, trusts, and any other entity as may be
prescribed by RBI. The minimum amount for bidding will be ` 10,000 (face value) and thereafter in multiples in ` 10,000
as hitherto for dated stocks.
IV. Other Operational Guidelines:
1. The retail investor desirous of participating in the auction under the Scheme would be required to
maintain a constituent subsidiary general ledger (CSGL) account with the bank or PD through whom they wish
to participate. Under the Scheme, an investor can make only a single bid in an auction of a dated security. An
undertaking to the effect that the investor is making only a single bid will have to obtained and kept on record by
the bank or PD.
2. Each bank or PD on the basis of firm orders received from their constituents will submit a single
consolidated non-competitive bid on behalf of all its constituents for each security in electronic format on the¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 7
Reserve Bank of India Core Banking Solution (E-Kuber) System. Except in extraordinary circumstances such as
general failure of the Reserve Bank of India Core Banking Solution (E-Kuber) System, non-competitive bid in
physical form will not be accepted.
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 or not.
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 responsibility of the bank or PD to
appropriately allocate securities to their clients in a transparent manner.
5. In case the aggregate amount of bids is less than the reserved amount, the shortfall will be taken to
competitive portion.
6. Security would be issued only in SGL form by RBI. RBI would credit either the main SGL account or
the CSGL account of the bank or PD as indicated by them. The facility for affording credit to the main SGL
account is for the sole purpose of servicing investors who are not their constituents. Therefore, the bank or PD
would have to indicate clearly at the time of tendering the non-competitive bids the amounts (face value) to be
credited to their SGL account and the CSGL account. Delivery in physical form from the main SGL account is
permissible at the instance of the investor subsequently.
7. It will be the responsibility of the bank or the PD to pass on the securities to their clients. Except in
extraordinary circumstances, the transfer of securities to the clients shall be completed within five working days
from the date of issue.
8. The bank or PD can recover upto six paise per ` 100 as brokerage/commission/service charges for
rendering this service to their clients. Such costs may be built into the sale price or recovered separately from the
clients. In case the transfer of securities is effected subsequent to the issue date of the security, the consideration
amount payable by the client to the bank or PD would also include accrued 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 modified.
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