Executive Summary:
This document announces the sale/reissue of Government Stocks by the Government of India. The auction will be conducted by the Reserve Bank of India on October 12, 2018, with payment due on October 15, 2018. It also details a scheme for non-competitive bidding in government security auctions to encourage wider participation.
Key Points / Main Content:
Government Stock Sale/Reissue:
* Government of India is offering for sale/reissue the following Government Stocks: 7.37 GS 2023, 7.17 GS 2028, 7.40 GS 2035, and 7.06 GS 2046.
* The total notified amount is ₹11,000 crore, with the option to retain additional subscription up to ₹1,000 crore for each security.
* The sale is subject to terms and conditions outlined in this notification and the General Notification F. No. 42WM 2018, dated March 27, 2018.
Auction Details:
* The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on October 12, 2018.
* Bids must be submitted electronically via the RBI's e-Kuber system.
* Non-competitive bids are to be submitted between 10:30 a.m. and 11:30 a.m., and competitive bids between 10:30 a.m. and 12:00 noon.
Payment and Interest:
* Payment by successful bidders is due on October 15, 2018.
* Payment includes accrued interest from the original issue/last coupon payment date.
* Interest will be paid half-yearly on the nominal value of the stock.
Non-Competitive Bidding Scheme:
* Up to 5% of the notified amount is reserved for non-competitive bids.
* Eligibility: Open to investors who do not maintain a current account (CA) or Subsidiary General Ledger (SGL) account with RBI (with exceptions for RRBs and Cooperative Banks).
* Bid Limit: A single bid for an amount not more than ₹2 crore face value per auction is allowed.
* Submission: Bids must be submitted indirectly through a bank or Primary Dealer (PD) offering the scheme.
* Minimum Bid: The minimum bid amount is ₹10,000 face value and thereafter in multiples of ₹10,000.
* Allotment: Allotment will be at the weighted average rate of yield/price from the competitive bidding.
Operational Guidelines for Non-Competitive Bidding:
* Retail investors must maintain a CSGL account with the bank or PD.
* Banks/PDs submit a single consolidated non-competitive bid on behalf of their constituents.
* Securities are issued in SGL form only.
* Banks/PDs are responsible for passing on the securities to their clients within five working days.
* Brokerage/commission/service charges are capped at six paise per ₹100.
Impact Analysis:
Government of India:
* Impact: Facilitates raising funds through the sale/reissue of government stocks.
* Action Required: Oversee the auction process and ensure compliance with the notification.
Reserve Bank of India (RBI):
* Impact: Responsible for conducting the auction and managing the bidding process.
* Action Required: Conduct the auction on October 12, 2018, display results, and credit securities to successful bidders.
Banks and Primary Dealers (PDs):
* Impact: Act as intermediaries for non-competitive bidders and facilitate the bidding process.
* Action Required: Submit consolidated non-competitive bids, allocate securities to clients, and furnish information to RBI.
Investors (Individuals, Institutions, etc.):
* Impact: Opportunity to invest in government securities through competitive or non-competitive bidding.
* Action Required: Submit bids through appropriate channels (directly for competitive, or through banks/PDs for non-competitive), make payments, and maintain CSGL accounts if participating in the non-competitive scheme.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction of Government Stocks.
Mumbai, Maharashtra: Location of the Reserve Bank of India office where the auction is conducted and results are displayed.
Government Stock: Debt instrument issued by the Government of India being auctioned/reissued.
Government of India: The issuer of the Government Stocks and responsible for the notification regarding the sale/reissue.
Ministry of Finance: The ministry under which the Department of Economic Affairs and Budget Division operate.
New Delhi: Location of publication of the gazette notification.
Arvind Shrivastava: Joint Secretary who signed the order on behalf of the President of India.
EKuber: The Reserve Bank of India Core Banking Solution system used for submitting bids in electronic format.
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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. 327] NEW DELHI, MONDAY, OCTOBER 8, 2018/ASVINA 16, 1940
िििि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, 8 अ(cid:7) तूबर, 2018
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////2222000011118888....————भारत सरकार एतद्(cid:11)ारा नीच े (cid:1)दए गए अनसु ार सरकारी (cid:22)टॉक, क(cid:25) िब(cid:28)(cid:25)
((((पपपपननननुुुु (cid:24)(cid:24)(cid:24)(cid:24)ननननगगगगमम(cid:26)(cid:26)मम(cid:26)(cid:26) )))) अिधसूिचत करती ह।ै
(cid:8)(cid:8)(cid:8)(cid:8)ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ममममललूूललूू ििििननननगगगगमममम(cid:7)(cid:7)(cid:7)(cid:7) कककक(cid:18)(cid:18)(cid:18)(cid:18) ममममललूूललूू अअअअववववििििधधधध पपपप(cid:24)(cid:24)(cid:24)(cid:24)ररररपपपप(cid:26)(cid:26)(cid:26)(cid:26)तततताााा कककक(cid:18)(cid:18)(cid:18)(cid:18) ननननीीीीललललााााममममीीीी ननननीीीीललललााााममममीीीी अअअअििििधधधधससससििििूूूूचचचचतततत
ककककाााा कककक(cid:18)(cid:18)(cid:18)(cid:18) ररररााााििििशशशश ककककररररोोोोड़ड़ड़ड़ ))))
ततततााााररररीीीीखखखख ((((ववववषषषष----(cid:7)(cid:7)(cid:7)(cid:7)ममममााााहहहह----(cid:21)(cid:21)(cid:21)(cid:21)ददददनननन)))) ततततााााररररीीीीखखखख
आआआआधधधधाााारररर ििििववववििििधधधध ((((मममम (cid:27)(cid:27) (cid:27)(cid:27)
7.37% सरकारी (cid:1)ितभूित 2023 16 अ(cid:1)ैल, 2018 05-00-00 16 अ(cid:1)ैल, 2023 मू(cid:10)य िविवध 3,000
7.17% सरकारी (cid:1)ितभूित 2028 08 जनवरी, 2018 10-00-00 08 जनवरी, 2028 मू(cid:10)य िविवध 3,000
7.40% सरकारी (cid:1)ितभूित 2035 09 िसत(cid:13)ब र, 2005 30-00-00 09 िसत(cid:13) बर, 2035 मू(cid:10)य िविवध 2,000
7.06% सरकारी (cid:1)ितभूित 2046 10 अ(cid:16)त ूबर, 2016 30-00-00 10 अ(cid:16) तूबर, 2046 मू(cid:10)य िविवध 3,000
कुल अिधसिू चत रािश के अ(cid:31)यधीन 11,000 करोड़ #पए क(cid:25) सीमा तक भारत सरकार, उपयु’(cid:7) त एक या अिधक (ितभिू तय* के
प+र(े,य म- (.य ेक म- 1,000 करोड़ #पए तक के अित+र/ अिभदान का िवक(cid:3)प बनाए रखेगी। यह िब(cid:28)(cid:25) इस अिधसूचना
(िजस े 'िविश3ट अिधसूचना' कहा गया ह)ै म - उि(cid:3)लिखत शत4 के अधीन होगी। इस (cid:22)टॉक क(cid:25) िब(cid:28)(cid:25) भारतीय +रजव’ ब8क, मुंबई
काया’लय, फोट’, मुंबई-400001 के मा(cid:31)यम स े भारत सरकार (cid:11)ारा जारी सामा:य अिधसचू ना एफ.स<ं या 4(2)-ड>(cid:3)यू ए?ड
एम/2018, तारीख 27 माच ’2018 म -िन@दA शत4 के अधीन क(cid:25) जाएगी।
5905 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC1]
अअअअ िििितततत(cid:15)(cid:15)(cid:15)(cid:15)पपपपधधधध#### बबबबोोोोललललीीीीददददाााातततताााा&&&& ककककोोोो आआआआबबबबटटंंटटंं नननन
2. सरकारी (ितभिू तय* क(cid:25) नीलािमय* म - अ(ित(cid:22)पधB बोली दने े क(cid:25) सुिवधा क(cid:25) संलC (cid:22)क(cid:25)म (अनुबंध) के अनसु ार, िब(cid:28)(cid:25) क(cid:25)
अिधसिू चत रािश का 5 (ितशत तक सरकारी (cid:22)टॉक पाD E यि/य* और सं(cid:22)थाG को आबं+टत (cid:1)कया जाएगा ।
ननननीीीीललललााााममममीीीी ककककाााा (cid:15)(cid:15)(cid:15)(cid:15)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय +रजव’ ब8क, मुंबई काया’लय, फोट’, मुंबई-400001 (cid:11)ारा 11112222 अअअअ((((तत तत ूूबबूूबबरररर,,,, 2222000011118888 को संचािलत क(cid:25)
जाएगी। नीलामी हते ु बोिलया ं भारतीय +रजव’ ब8क कोर ब8Iकग सो(cid:3)यूशन (ई-कुबेर) (णाली संबंधी इले(cid:7)Kॉिनक (पD म - 11112222
अअअअ((((तत तत ूूबबूूबबरररर,,,, 2222000011118888 को ((cid:22)तुत क(cid:25) जानी चािहए। अ(ित(cid:22)पधB बोिलया ं पपपपववूूववूू ाााा))(cid:26)(cid:26)))(cid:26)(cid:26) नननन 11110000....33330000 बबबबजजजज ेे ेेसससस ेे ेे11111111....33330000 बबबबजजजज ेेेेके बीच और (ित(cid:22)पधB
बोिलया ंपपपपववूूववूू ाााा))(cid:26)(cid:26)))(cid:26)(cid:26) नननन 11110000....33330000 बबबबजजजज ेे ेेसससस ेे ेेददददोोोोपपपपहहहहरररर 11112222....00000000 बबबबजजजज ेेेेके बीच ((cid:22)तुत क(cid:25) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:26)(cid:26)िि(cid:26)(cid:26) ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:22)टॉक, भारतीय +रजव’ ब8क (cid:11)ारा जारी (cid:1)दशािनदशL * के अनसु ार, 'कब िनगि’ मत’ कारोबार के िलए पाD 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’ ब8क (cid:11)ारा अपने फोट’ ि(cid:22)थत मुंबई कायाल’ य म- 11112222 अअअअ((((तत तत ूूबबूूबबरररर,,,, 2222000011118888 को (दNशत (cid:1)कया
जाएगा। सफल बोलीदाताG (cid:11)ारा भुगतान 11115555 अअअअ((((तततत बबूूबबूू रररर,,,, 2222000011118888 अथा’त ् पपपपननुुननुु (cid:24)(cid:24)(cid:24)(cid:24)ननननगगगगमममम(cid:26)(cid:26)(cid:26)(cid:26) क(cid:25) तारीख को (cid:1)कया जाएगा। (cid:22)टॉक के िलए
भुगतान म - नीलामी म- आब+ं टत (cid:22)टॉक के अ(cid:1)ं कत मू(cid:3)य पर, मलू िनग’म/अंितम कूपन भुगतान क(cid:25) तारीख से (ोPभूत >याज दये
होन ेक(cid:25) तारीख तक (ोPभूत >याज शािमल होगा जैसा (cid:1)क परै ा 6 म- तािलका म- उि(cid:3)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 िनग’म/अंितम कूपन भुगतान क(cid:25) तारीख से (cid:22)टॉक के अ(cid:1)ं कत मू(cid:3)य पर >याज (ोPभूत होगा तथा इसका भुगतान
अSव’ ाNषक आधार पर (cid:1)कया जाएगा। (cid:22)टॉक का पनु भु’गतान प+रपUता क(cid:25) तारीख पर सममू(cid:3)य पर (cid:1)कया जाएगा।
(cid:8)(cid:8)(cid:8)(cid:8)ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअअअ ििंंििंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन (cid:21)(cid:21)(cid:21)(cid:21)ककककसससस ततततााााररररीीीीखखखख ततततकककक (cid:8)(cid:8)(cid:8)(cid:8)ोोोो भभभभततूूततूू ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:18)(cid:18)(cid:18)(cid:18) ततततााााररररीीीीखखखख
((((%%%%)))) !!!!ययययााााजजजज ददददययेेययेे हहहह ैैैै
कककक(cid:18)(cid:18)(cid:18)(cid:18) ततततााााररररीीीीखखखख ((((ततततााााररररीीीीखखखख////ममममााााहहहह))))
7.37% सरकारी (cid:1)ितभूित 2023 7.37 नया (cid:19)टॉक 14 अ(cid:16) तूबर 2018 16 अ(cid:16)टूबर और 16 अ(cid:1)ैल
7.17% सरकारी (cid:1)ितभूित 2028 7.17 08 जुलाई, 2018 14 अ(cid:16) तूबर 2018 08 जनवरी और 08 जुलाई
7.40% सरकारी (cid:1)ितभूित 2035 7.40 09 िसत(cid:13) बर,,,, 2018 14 अ(cid:16) तूबर 2018 09 माच (cid:25) और 09 िसत(cid:13) बर
7.06% सरकारी (cid:1)ितभूित 2046 7.06 10 अ(cid:16) तूबर,,,, 2018 14 अ(cid:16) तूबर 2018 10 अ(cid:1)ैल और 10 अ(cid:16) तूबर
भारत के राVपित के आदशे स,े
अरWवद Xीवा(cid:22)तव, संयु/ सिचव
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी ििििततततभभभभििििूूूूततततयययय---- कककक(cid:18)(cid:18)(cid:18)(cid:18) ननननीीीीललललााााममममीीीी मममम .. ..अअअअ िििितततत(cid:15)(cid:15)(cid:15)(cid:15)पपपपधधधध#### बबबबोोोोललललीीीी ससससििुुििुु ववववधधधधाााा (cid:15)(cid:15)(cid:15)(cid:15)कककक(cid:18)(cid:18)(cid:18)(cid:18)मममम
IIII.... ककककाााायययय//(cid:26)(cid:26)//(cid:26)(cid:26) (cid:6)(cid:6)ेे(cid:6)(cid:6)ेे :::: सरकारी (ितभूितय* क(cid:25) Yापक भागीदारी और खुदरा धा+रता को (ो.साहन दने े क(cid:25) दिृ A से भारत सरकार क(cid:25)
(cid:1)दना(cid:1)ं कत (ितभिू तय* क(cid:25) चयिनत नीलािमय* म - "अ(ित(cid:22)पधB" आधार पर भागीदारी क(cid:25) अनुमित दने े का ((cid:22)ताव (cid:1)कया गया
ह।ै तPनुसार, (cid:1)दनां(cid:1)कत (ितभिू तय* क(cid:25) नीलािमय* म -अिधसूिचत रािश के 5 (ितशत तक क(cid:25) अ(ित(cid:22)पधB बोिलयां (cid:22)वीकार क(cid:25)
जाएंगी। (ारि[त रािश अिधसिू चत रािश के अअअअ1111ततततगगगगतत(cid:26)(cid:26)तत(cid:26)(cid:26) होगी।
IIIIIIII.... पपपपाााा(cid:6)(cid:6)(cid:6)(cid:6)तततताााा :::: भारत सरकार क(cid:25) (cid:1)दना(cid:1)ं कत (ितभिू तय* क(cid:25) नीलािमय* म - अ(ित(cid:22)पधB आधार पर ऐस े िनवेशक* के िलए
भागीदारी खुली होगी जो िन\िलिखत शत4 को पूरा करते ह:8
1. जो भारतीय +रजव’ ब8क के पास चाल ूखाता (सीए) अथवा सहायक सामा:य बही (एसजीएल) खाता नह] रखत ेह;8
अअअअपपपपववववाााादददद:::: [ेDीय ^ामीण ब8क* (आरआरबी) और सहकारी ब8क* को उनके सांिविधक दािय.व* के दिृ Aगत इस (cid:22)क(cid:25)म के अधीन
शािमल (cid:1)कया जाएगा।
2. जो (ित नीलामी दो करोड़ #पए (अं(cid:1)कत मू(cid:3)य) से अनिधक रािश के िलए एक ही बोली लगाते ह;8¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
3. जो यह (cid:22)क(cid:25)म (दान करन े वाल े (cid:1)कसी एक ब8क अथवा (ाथिमक डीलर के मा(cid:31)यम स े अपनी बोली अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े
((cid:22)तुत करत ेह8।
अअअअपपपपववववाााादददद:::: ऐसे [ेDीय ^ामीण ब8क (आरआरबी) तथा सहकारी ब8क जो भारतीय +रजव’ ब8क म - एस.जी.एल.खाता और चाल ू
खाता रखत ेह,8 अपनी अ(ित(cid:22)पधB बोिलय* को (.य[ _प से ((cid:22)तुत करन ेके िलए पाD ह*गे।
IIIIIIIIIIII.... 2222ाााापपपपककककतततताााा:::: उपयु’/ शत4 के अधीन "अ(ित(cid:22)पधB" आधार पर फम4, कंपिनय*, िनगिमत िनकाय*, सं(cid:22)थाG, भिव3 य
िनिधय*, :यास* और भारतीय +रजव’ ब8क (cid:11)ारा यथा-िनधा+’ रत (cid:1)कसी अ:य कंपनी सिहत (cid:1)कसी भी Yि/ के िलए भागीदारी
खुली ह।ै बोली दने े क(cid:25) :यूनतम रािश 10,000 #पए (अं(cid:1)कत मू(cid:3)य) और उसके बाद 10,000 #पए के गुणज* म- होगी जैसा
अब तक (cid:1)दना(cid:1)ं कत (cid:22)टॉक के िलए ह।ै
IIIIVVVV.... अअअअ1111यययय चचचचााााललललननननाााा4444ममममकककक 5555ददददशशशशााााििििननननददददशश77शश77 ::::
1111.... खुदरा िनवेशक के िलए उस ब8क अथवा (ाथिमक डीलर, िजनके मा(cid:31)यम स े वे भाग लेना चाहत े ह,8 के पास एक संघटक
सहायक सामा:य बही (सीएसजीएल) खाता रखना अिनवाय ’ होगा। कोई भी िनवेशक इस (cid:22)क(cid:25)म के अधीन (cid:1)दना(cid:1)ं कत (ितभिू त
क(cid:25) (cid:1)कसी नीलामी म - केवल एक बोली म - भाग ल े सकता ह।ै इस आशय का वचन (cid:1)क िनवेशक केवल एक बोली द े रहा ह,ै ब8क
अथवा (ाथिमक डीलर (cid:11)ारा (ा‘ (cid:1)कया जाना और +रकाड ’म- रखा जाना होगा।
2. अपन े^ाहक* से (ा‘ पaे आडर’ के आधार पर (.यके ब8क अथवा (ाथिमक डीलर भारतीय +रजव’ ब8क कोर ब8Iकग सो(cid:3)यूशन
(ई-कुबेर) (णाली संबंधी इले(cid:7)Kॉिनक (पD म - अपन े ^ाहक* क(cid:25) ओर स े एक एकल सम(cid:1)े कत अ(ित(cid:22)पधB बोली ((cid:22)तुत करेगा।
असाधारण प+रि(cid:22)थितय*, जैस े भारतीय +रजव’ ब8क कोर ब8Iकग सो(cid:3)यूशन (ई-कुबेर) (णाली म - सामा:य गड़बड़ी को छोड़कर,
भौितक _प म -अ(ित(cid:22)पधB बोली (cid:22)वीकार नह] क(cid:25) जाएगी।
3. ब8क अथवा (ाथिमक डीलर को अ(ित(cid:22)पधB खंड के अधीन आबंटन (ितलाभ/क(cid:25)मत क(cid:25) उस भारािं शत औसत दर पर
होगा, जो (ित(cid:22)पधB बोली दने ेके आधार पर नीलामी म -सामन ेआएगी। इस बात पर (cid:31)यान (cid:1)दए िबना (cid:1)क ब8क अथवा (ाथिमक
डीलर न ेअपन े^ाहक* स ेभुगतान (ा‘ कर िलया ह ैया नह], िनग’म क(cid:25) तारीख को भुगतान (ा‘ करके ब8क या (ाथिमक डीलर
को (ितभिू तया ंजारी क(cid:25) जाएंगी।
4. ऐस े मामल े म,- जहा ं बोली क(cid:25) रािश (ारि[त रािश (अिधसिू चत रािश के 5 (ितशत) स े अिधक ह ै यथानुपात आबंटन
(cid:1)कया जाएगा। आंिशक आबंटन* के मामल े म,- यह ब8क अथवा (ाथिमक डीलर* का दािय.व होगा (cid:1)क वह अपन े ^ाहक* को
(ितभिू तय* का उिचत आबंटन एक पारदशB तरीके स ेकर-।
5. ऐस ेमामल ेम -जहां बोली रािश (ारि[त रािश स ेकम हो, कमी को (ित(cid:22)पधB भाग म- शािमल (cid:1)कया जाएगा।
6. (ितभिू त को भारतीय +रजव’ ब8क (cid:11)ारा केवल एसजीएल _प म - जारी (cid:1)कया जाएगा। भारतीय +रजव’ ब8क इस ेया तो ब8क
अथवा (ाथिमक डीलर के मु<य एसजीएल खात े अथवा सीएसजीएल खात े म - जमा करेगा, जैसा(cid:1)क उनके (cid:11)ारा िनदशL (cid:1)दया
गया ह।ै म<ु य एसजीएल खाते म - जमा करन े क(cid:25) सुिवधा एकमाD उन िनवेशक* क(cid:25) सेवा के (योजनाथ ’ है जो उनके घटक नह]
ह।8 अतः ब8क अथवा (ाथिमक डीलर* को अ(ित(cid:22)पधB बोिलय* क(cid:25) िनिवदा दते े समय उनके एसजीएल खात े और सीएसजीएल
खात े म - जमा होन े वाली रािशय* (अं(cid:9)कत मू(cid:14)य) को (cid:22)प3 ट _प स े दशा’ना होगा। बाद म - िनवेशक के अनुरोध पर म<ु य
एसजीएल खात ेस ेवा(cid:22)तिवक _प म -क(cid:25) गई सुपुद’गी (cid:22)वीकाय ’ह।ै
7. यह ब8क अथवा (ाथिमक डीलर का दािय.व ह ै(cid:1)क वह ^ाहक को (ितभिू तया ंह(cid:22)तांत+रत करे। असाधारण प+रि(cid:22)थितय* को
छोड़कर, ^ाहक* को (ितभिू तय* का अंतरण िनग’म क(cid:25) ितिथ स ेपांच काय ’(cid:1)दवस* के भीतर परू ा (cid:1)कया जाएगा।
8. ब8क अथवा (ाथिमक डीलर अपन े ^ाहक* को यह सेवा दने े के िलए छह पैस े (ित सौ #पए तक दलाली/कमीशन/सवे ा
(भार के _प म - वसूल कर सकते ह।8 ऐसी क(cid:25)मत िब(cid:28)(cid:25) मू(cid:3)य म - शािमल क(cid:25) जा सकती ह ै या ^ाहक* स े अलग स े वसूल क(cid:25) जा
सकती ह।ै ऐस े मामल े म - जहां (ितभिू तय* का अंतरण (ितभिू त क(cid:25) िनग’म ितिथ के बाद (भावी होता हो, ब8क या (ाथिमक
डीलर को ^ाहक (cid:11)ारा दये (ितफल रािश म -िनगम’ ितिथ स ेउपिचत >याज शािमल होगा।
9. (ितभिू तय* क(cid:25) लागत, उपिचत >याज जहा ं भी लाग ू हो, तथा दलाली/कमीशन/सेवा (भार* के िलए ^ाहक* स े भुगतान
(ा‘ करन े क(cid:25) काय’-(णाली, ब8क या (ाथिमक डीलर (cid:11)ारा ^ाहक के साथ क(cid:25) गई सहमित के अनसु ार तैयार क(cid:25) जाएगी। यह
उ(cid:3)लेखनीय ह ै (cid:1)क (cid:1)कसी अ:य लागत, जैस े िनिधकरण लागत को मू(cid:3)य म - शािमल नह] (cid:1)कया जाना चािहए या ^ाहक* स ेवसूल
नह] (cid:1)कया जाना चािहए।
VVVV.... ब8क* और (ाथिमक डीलर* को भारतीय +रजव’ ब8क (ब8क) (cid:11)ारा समय-समय पर मांगी गई योजना के तहत संचालन* से
संबंिधत सूचना िनधा’+रत समय सीमा के अंतग’त ब8क को ((cid:22)तुत करनी होगी।
VVVVIIII.... ऊपर उि(cid:3)लिखत (cid:1)दशािनदLश ब8क (cid:11)ारा समी[ा के अधीन है और तPनसु ार, जब भी आवbयकता होगी, योजना को
संशोिधत (cid:1)कया जाएगा।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC1]
MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 8th October, 2018
Auction for Sale (Re-issue) of Government Stock (GS)
F. No. 4(6)W&M/2018.—Government of India hereby notifies sale (re-issue) of the following
Government Stocks:
Name of the Date of Original Original Date of Auction Auction Notified
Security Issue Tenure Maturity Basis Method Amount
(yy-mm-dd) (in ` Crore)
7.37% GS 2023 Apr. 16, 2018 05-00-00 Apr. 16, 2023 Price Multiple 3,000
7.17% GS 2028 Jan. 08, 2018 10-00-00 Jan. 08, 2028 Price Multiple 3,000
7.40% GS 2035 Sep. 09, 2005 30-00-00 Sept. 09, 2035 Price Multiple 2,000
7.06% GS 2046 Oct. 10, 2016 30-00-00 Oct. 10, 2046 Price Multiple 3,000
Subject to the limit of ` 11,000 crore, being total notified amount, GoI will have the option to retain additional
subscription up to ` 1,000 crore 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
October 12, 2018. Bids for the auction should be submitted in electronic format on the Reserve Bank of India
Core Banking Solution (E-Kuber) system on October 12, 2018. 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.
When Issued Trading
4. The Stocks 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
October 12, 2018. The payment by successful bidders will be on October 15, 2018 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 Stocks will be repaid at par on date of maturity.¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
Name of the Coupon rate Date of Last Date up to which Date of Coupon payments
Security (%) Coupon payment (month/date)
accrued interest is due
7.37% GS 2023 7.37 New Stock October 14, 2018 Oct. 16 and Apr. 16
7.17% GS 2028 7.17 Jul. 08, 2018 October 14, 2018 Jan. 08 and Jul. 08
7.40% GS 2035 7.40 Sept. 09, 2018 October 14, 2018 Mar. 09 and Sept. 09
7.06% GS 2046 7.06 Oct. 10, 2018 October 14, 2018 Apr. 10 and Oct. 10
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 the
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.6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC1]
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.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.