Executive Summary:
This document from the Indian Ministry of Finance announces the sale and reissue of several Government Stocks via auction. The auction, conducted by the Reserve Bank of India (RBI) in Mumbai, will take place on December 21, 2018. The notification also details a scheme for non-competitive bidding in these government security auctions to encourage wider participation.
Key Points / Main Content:
Government Stock Reissuance:
* Government of India is reissuing multiple Government Stocks (GS) with varying maturity dates (2020, 2027, 2032, 2035, 2045)
* The auction for the sale/reissue is scheduled for December 21, 2018.
* The total notified amount for the auction is ₹12,000 crore, with an option to retain additional subscriptions up to ₹1,000 crore per security.
Auction Details:
* The auction will be conducted by the Reserve Bank of India (RBI), Mumbai.
* Bids must be submitted electronically via the RBI's e-Kuber system.
* Non-competitive bids: 11:00 a.m. to 12:00 noon on December 21, 2018
* Competitive bids: 11:00 a.m. to 12:30 p.m. on December 21, 2018
* Auction results will be displayed at the RBI, Mumbai office on December 21, 2018.
* Payment by successful bidders is due on December 24, 2018.
* Stocks are eligible for When Issued trading.
Non-Competitive Bidding Scheme:
* Up to 5% of the notified amount will be allotted to eligible individuals/institutions via non-competitive bidding.
* Minimum bid amount: ₹10,000 (face value), and in multiples thereof.
* Maximum bid amount: ₹2 crore (face value) per auction.
* Bids must be submitted through a bank or Primary Dealer (PD) offering this scheme.
* Exceptions: Regional Rural Banks (RRBs) and Cooperative Banks can bid directly.
Interest and Repayment:
* Interest accrues from the original issue/last coupon payment date and is paid semi-annually.
* Stocks will be repaid at par on the maturity date.
Impact Analysis:
RBI:
*Impact:* Responsible for conducting the auction and displaying the results.
*Action Required:* Conduct the auction on December 21, 2018, and display the results.
Banks/Primary Dealers (PDs):
*Impact:* Serve as intermediaries for non-competitive bids and must maintain a CSGL account for retail investors.
*Action Required:* Submit a single consolidated non-competitive bid on behalf of their constituents. Transfer securities to clients within five working days of the issue date.
Retail Investors (Individuals, Firms, Companies, Institutions, etc.):
*Impact:* Can participate in the auction through the non-competitive bidding scheme to acquire government securities.
*Action Required:* Submit bids through a bank or PD, ensure compliance with bidding limits, and maintain a CSGL account.
Government of India:
*Impact:* The issuer of the government stocks, responsible for notifying the sale and setting the terms.
*Action Required:* Oversee the auction process and manage the funds raised.
Key Entities Referenced
Government of India: The issuer of the policy notification and the seller/re-issuer of Government Stocks.
Ministry of Finance: The ministry under which the Department of Economic Affairs and Budget Division operate, as indicated in the notification header.
Department of Economic Affairs: A department within the Ministry of Finance responsible for economic policy.
Budget Division: A division within the Department of Economic Affairs involved in the budget process.
Reserve Bank of India: The central bank responsible for conducting the auction and managing government securities.
Mumbai, Maharashtra: The city where the Reserve Bank of India's office is located, which conducts the auction.
Government Stock: A type of security being sold/reissued through auction, as specified in the document.
Arvind Shrivastava: The Joint Secretary who signed the notification on behalf of the President of India.
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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. 400] NEW DELHI, MONDAY, DECEMBER 17, 2018/AGRAHAYANA 26, 1940
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)(cid:8)(cid:8)ंंंं ाााा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:4)द(cid:6)ल ी, 17 fnlEcj, 2018
ससससररररककककााााररररीीीी (cid:7)(cid:7)(cid:7)(cid:7)टटटटॉॉॉॉकककक ((((जजजजीीीी एएएएसससस)))) कककक(cid:10)(cid:10)(cid:10)(cid:10) ििििबबबब(cid:13)(cid:13)(cid:13)(cid:13)(cid:10)(cid:10)(cid:10)(cid:10) ((((पपपपननननुुुु (cid:17)(cid:17)(cid:17)(cid:17)ननननगगगगमम(cid:19)(cid:19)मम(cid:19)(cid:19) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
फफफफाााा....सससस..ंं.ं.ं 4444((((6666))))----डडडड(cid:12)(cid:12)(cid:12)(cid:12)(cid:14)(cid:14) (cid:14)(cid:14) यय यय एएूूएएूू ंंडडंंडडएएएएमममम////2222000011118888....————भारत सरकार एतद~(cid:1)ारा नीचे (cid:9)दए गए अनुसार सरकारी (cid:17)टॉक क(cid:20) िब(cid:23)(cid:20) ((((पपपपननुुननुु (cid:2)(cid:2)(cid:2)(cid:2)ननननगगगगमम(cid:7)(cid:7)मम(cid:7)(cid:7) ))))
अिधसूिचत करती ह:ै
(cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििूूििूूतततत ककककाााा ननननाााामममम ममममूलूलूलूल ििििननननगगगगमम(cid:13)(cid:13)मम(cid:13)(cid:13) कककक(cid:14)(cid:14)(cid:14)(cid:14) ममममूलूलूलूल अअअअववववििििधधधध पपपप(cid:16)(cid:16)(cid:16)(cid:16)ररररपपपप(cid:18)(cid:18)(cid:18)(cid:18)तततताााा कककक(cid:14)(cid:14)(cid:14)(cid:14) ननननीीीीललललााााममममीीीी ककककाााा ननननीीीीललललााााममममीीीी कककक(cid:14)(cid:14)(cid:14)(cid:14) अअअअििििधधधधससससििूूििूूचचचचतततत ररररााााििििशशशश
ततततााााररररीीीीखखखख ((((ववववषषषष----(cid:3)(cid:3)(cid:3)(cid:3)ममममााााहहहह----(cid:4)(cid:4)(cid:4)(cid:4)ददददनननन)))) ततततााााररररीीीीखखखख आआआआधधधधाााारररर ििििववववििििधधधध ((((ककककररररोोोोड़ड़ड़ड़ मममम))(cid:22)(cid:22)))(cid:22)(cid:22)
6.65% सरकारी (cid:1)ितभूित 2020 09 अ(cid:1)ैल, 2018 02-00-00 09 अ(cid:1)ैल, 2020 मू(cid:10)य िविवध 2,000
8.24% सरकारी (cid:1)ितभूित 2027 15 फरवरी, 2007 20-00-00 15 फरवरी, 2027 मू(cid:10)य िविवध 2,000
7.95% सरकारी (cid:1)ितभूित 2032 28 अग(cid:13)त, 2002 30-00-00 28 अग(cid:13)त, 2032 मू(cid:10)य िविवध 3,000
7.40% सरकारी (cid:1)ितभूित 2035 09 िसत(cid:15)ब र, 2005 30-00-00 09 िसत(cid:15) बर, 2035 मू(cid:10)य िविवध 2,000
8.13% सरकारी (cid:1)ितभूित 2045 22 जून, 2015 30-00-00 22 जून, 2045 मू(cid:10)य िविवध 3,000
कुल अिधसूिचत रािश के अ(cid:16)यधीन 12,000 करोड़ (cid:22)पए क(cid:25) सीमा तक भारत सरकार, उपयु(cid:28)(cid:29) त एक या अिधक
(cid:30)ितभिू तय के प!रपे"य म # (cid:30)$य ेक म # 1,000 करोड़ (cid:22)पए तक के अित!र% अिभदान का िवक(प बनाए रखेगी। यह िब-(cid:25) इस
अिधसूचना (िजस े 'िविश.ट अिधसूचना' कहा गया ह)ै म # उि(लिखत शत0 के अधीन होगी। इस 3टॉक क(cid:25) िब-(cid:25) भारतीय !रजव(cid:28)
ब6क, मुंबई कायाल(cid:28) य, फोट(cid:28), मुंबई-400001 के मा(cid:16)यम स ेभारत सरकार 8ारा जारी सामा9य अिधसूचना एफ.स;ं या 4(2)-ड=(यू
ए>ड एम/2018, तारीख 27 माच (cid:28)2018 म #िन?द@ शत0 के अधीन क(cid:25) जाएगी।
अअअअ(cid:22)(cid:22)(cid:22)(cid:22)िििितततत(cid:7)(cid:7)(cid:7)(cid:7)पपपपधधधध(cid:25)(cid:25)(cid:25)(cid:25) बबबबोोोोललललीीीीददददाााातततताााा(cid:29)(cid:29)(cid:29)(cid:29) ककककोोोो आआआआबबबबंटंटंटंटनननन
2. सरकारी (cid:30)ितभूितय क(cid:25) नीलािमय म # अ(cid:30)ित3पधA बोली दने े क(cid:25) सिु वधा क(cid:25) सलं B 3क(cid:25)म (अनुबंध) के अनुसार, िब-(cid:25) क(cid:25)
अिधसिू चत रािश का 5 (cid:30)ितशत तक सरकारी 3टॉक पाC D यि%य और सं3थाF को आबं!टत Hकया जाएगा ।
7407 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
ननननीीीीललललााााममममीीीी ककककाााा (cid:7)(cid:7)(cid:7)(cid:7)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय !रजव(cid:28) ब6क, मुंबई कायाल(cid:28) य, फोट(cid:28), मुंबई-400001 8ारा 22221111 (cid:31)(cid:31)(cid:31)(cid:31)ददददसससस बबबबरररर,,,, 2222000011118888 को संचािलत क(cid:25)
जाएगी। नीलामी हते ु बोिलया ं भारतीय !रजव(cid:28) ब6क कोर ब6Iकग सो(यूशन (ई-कुबेर) (cid:30)णाली संबंधी इले(cid:29)Kॉिनक (cid:30)पC म #
22221111 (cid:31)(cid:31)(cid:31)(cid:31)ददददसससस बबबबरररर,,,, 2222000011118888 को (cid:30)3तुत क(cid:25) जानी चािहए। अ(cid:30)ित3पधA बोिलयां पूवा(cid:28)Lन 11.00 बजे स ेदोपहर 12.00 बजे के बीच और
(cid:30)ित3पधA बोिलया ंपूवा(cid:28)Lन 11.00 बजे स ेम(cid:16)याLन 12.30 बजे के बीच (cid:30)3तुत क(cid:25) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:19)(cid:19)िि(cid:19)(cid:19)ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह 3टॉक, भारतीय !रजव(cid:28) ब6क 8ारा जारी HदशािनदशM के अनसु ार, 'कब िनगि(cid:28) मत’ कारोबार के िलए पाC होगा।
ििििननननगगगगमममम(cid:19)(cid:19)(cid:19)(cid:19) कककक(cid:10)(cid:10)(cid:10)(cid:10) ततततााााररररीीीीखखखख औऔऔऔरररर (cid:7)(cid:7)(cid:7)(cid:7)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प!रणाम भारतीय !रजव(cid:28) ब6क 8ारा अपने फोट(cid:28) ि3थत मुंबई कायाल(cid:28) य म # 22221111 (cid:31)(cid:31)(cid:31)(cid:31)ददददसससस बबबबरररर,,,, 2222000011118888 को (cid:30)दOशत Hकया
जाएगा। सफल बोलीदाताF 8ारा भुगतान 22224444 (cid:31)(cid:31)(cid:31)(cid:31)ददददसससस बबबबरररर,,,, 2222000011118888 अथा(cid:28)त् पपपपननननुुुु (cid:17)(cid:17)(cid:17)(cid:17)ननननगगगगमम(cid:19)(cid:19)मम(cid:19)(cid:19) क(cid:25) तारीख को Hकया जाएगा। 3टॉक के िलए
भुगतान म # नीलामी म #आबं!टत 3टॉक के अHं कत मू(य पर, मलू िनगम(cid:28) /अंितम कूपन भुगतान क(cid:25) तारीख स े(cid:30)ोQभूत =याज दये होन े
क(cid:25) तारीख तक (cid:30)ोQभतू =याज शािमल होगा जैसा Hक पैरा 6 म #तािलका म# उि(लिखत ह।ै
!!!!ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:7)(cid:7)(cid:7)(cid:7)टटटटॉॉॉॉकककक ककककाााा पपपपननननुुुु भभभभगगु(cid:19)ु(cid:19)गगु(cid:19)ु(cid:19) तततताााानननन
6. मूल Oनगम(cid:28) /अिं तम कूपन भुगतान क(cid:25) तारीख से 3टॉक के अHं कत मू(य पर =याज (cid:30)ोQभूत होगा तथा इसका भुगतान
अTव(cid:28) ाOषक आधार पर Hकया जाएगा। 3टॉक का पनु भु(cid:28)गतान प!रपVता क(cid:25) तारीख पर सममू(य पर Hकया जाएगा।
(cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििूूििूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअअअ ििंंिि ंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन (cid:24)(cid:24)(cid:24)(cid:24)ककककसससस ततततााााररररीीीीखखखख ततततकककक (cid:1)(cid:1)(cid:1)(cid:1)ोोोो(cid:26)(cid:26)(cid:26)(cid:26)भभभभूतूतूतूत ककककूूूूपपपपनननन भभभभुगुगुगुगतततताााानननन कककक(cid:14)(cid:14)(cid:14)(cid:14) ततततााााररररीीीीखखखख
((((%%%%)))) कककक(cid:14)(cid:14)(cid:14)(cid:14) ततततााााररररीीीीखखखख (cid:27)(cid:27)(cid:27)(cid:27)ययययााााजजजज ददददययेेययेे हहहह ैै ैै ((((ततततााााररररीीीीखखखख////ममममााााहहहह))))
6.65% सरकारी (cid:1)ितभूित 2020 6.65 09 अ(cid:18) तूबर, 2018 23 (cid:19)दस(cid:15)बर, 2018 09 अ(cid:1)ैल और 09 अ(cid:18) तूबर
8.24% सरकारी (cid:1)ितभूित 2027 8.24 15 अग(cid:13)त, 2018 23 (cid:19)दस(cid:15)बर, 2018 15 फरवरी और 15 अग(cid:13)त
7.95% सरकारी (cid:1)ितभूित 2032 7.95 28 अग(cid:13)त, 2018 23 (cid:19)दस(cid:15)बर,,,, 2018 28 फरवरी और 28 अग(cid:13)त
7.40% सरकारी (cid:1)ितभूित 2035 7.40 09 िसत(cid:15) बर,,,, 2018 23 (cid:19)दस(cid:15)बर,,,, 2018 09 माच (cid:24) और 09 िसत(cid:15) बर
8.13% सरकारी (cid:1)ितभूित 2045 8.13 22 (cid:19)दसंबर, 2018 23 (cid:19)दस(cid:15)बर,,,, 2018 22 जून और 22 (cid:19)दसंबर
भारत के रा(cid:26)पित के आदेश से,
अर(cid:30)वद ीवा(cid:17)तव, संयु# सिचव
अअअअननननुबुबुबुबधधंंधधंं
ससससररररककककााााररररीीीी (cid:22)(cid:22)(cid:22)(cid:22)ििििततततभभभभििििूूूूततततयययय’’’’ कककक(cid:10)(cid:10)(cid:10)(cid:10) ननननीीीीललललााााममममीीीी मममम ((((अअअअ(cid:22)(cid:22)(cid:22)(cid:22)िििितततत(cid:7)(cid:7)(cid:7)(cid:7)पपपपधधधध(cid:25)(cid:25)(cid:25)(cid:25) बबबबोोोोललललीीीी ससससििुुििुुववववधधधधाााा (cid:7)(cid:7)(cid:7)(cid:7)कककक(cid:10)(cid:10)(cid:10)(cid:10)मममम
IIII.... ककककाााायययय))(cid:19)(cid:19)))(cid:19)(cid:19) ++ेे++ेे :::: सरकारी (cid:30)ितभिू तय क(cid:25) Wापक भागीदारी और खुदरा धा!रता को (cid:30)ो$साहन दने े क(cid:25) दिृ@ से भारत सरकार क(cid:25)
HदनाHं कत (cid:30)ितभूितय क(cid:25) चयिनत नीलािमय म # "अ(cid:30)ित3पधA" आधार पर भागीदारी क(cid:25) अनुमित दने े का (cid:30)3ताव Hकया गया ह।ै
तQनसु ार, HदनाHं कत (cid:30)ितभिू तय क(cid:25) नीलािमय म # अिधसिू चत रािश के 5 (cid:30)ितशत तक क(cid:25) अ(cid:30)ित3पधA बोिलया ं 3वीकार क(cid:25)
जाएंगी। (cid:30)ारिYत रािश अिधसिू चत रािश के अअअअ,,,,ततततगगगगतत(cid:19)(cid:19)तत(cid:19)(cid:19) होगी।
IIIIIIII.... पपपपाााा++++तततताााा :::: भारत सरकार क(cid:25) HदनाHं कत (cid:30)ितभिू तय क(cid:25) नीलािमय म # अ(cid:30)ित3पधA आधार पर ऐसे िनवेशक के िलए
भागीदारी खुली होगी जो िनZिलिखत शत0 को पूरा करत ेह6:
1. जो भारतीय !रजव(cid:28) ब6क के पास चाल ूखाता (सीए) अथवा सहायक सामा9य बही (एसजीएल) खाता नह[ रखत ेह;6
अअअअपपपपववववाााादददद:::: YेCीय \ामीण ब6क (आरआरबी) और सहकारी ब6क को उनके सािं विधक दािय$व के दिृ@गत इस 3क(cid:25)म के
अधीन शािमल Hकया जाएगा।
2. जो (cid:30)ित नीलामी दो करोड़ (cid:22)पए (अंHकत मू(य) से अनिधक रािश के िलए एक ही बोली लगाते ह;6
3. जो यह 3क(cid:25)म (cid:30)दान करन े वाल े Hकसी एक ब6क अथवा (cid:30)ाथिमक डीलर के मा(cid:16)यम स े अपनी बोली अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े
(cid:30)3तुत करत ेह।6¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअपपपपववववाााादददद:::: ऐस े YेCीय \ामीण ब6क (आरआरबी) तथा सहकारी ब6क जो भारतीय !रजव(cid:28) ब6क म # एस.जी.एल.खाता और
चाल ूखाता रखत ेह,6 अपनी अ(cid:30)ित3पधA बोिलय को (cid:30)$यY ]प से (cid:30)3तुत करन ेके िलए पाC ह गे।
IIIIIIIIIIII.... ----ाााापपपपककककतततताााा:::: उपयु(cid:28)% शत0 के अधीन "अ(cid:30)ित3पधA" आधार पर फम0, कंपिनय , िनगिमत िनकाय , सं3थाF, भिव. य िनिधय ,
9यास और भारतीय !रजव(cid:28) ब6क 8ारा यथा-िनधा!(cid:28) रत Hकसी अ9य कंपनी सिहत Hकसी भी Wि% के िलए भागीदारी खुली ह।ै
बोली दने े क(cid:25) 9यूनतम रािश 10,000 (cid:22)पए (अंHकत मू(य) और उसके बाद 10,000 (cid:22)पए के गुणज म# होगी जैसा अब तक
HदनाHं कत 3टॉक के िलए ह।ै
IIIIVVVV.... अअअअ,,,,यययय (cid:22)(cid:22)(cid:22)(cid:22)चचचचााााललललननननाााा////ममममकककक (cid:31)(cid:31)(cid:31)(cid:31)ददददशशशशााााििििननननददददशश11शश11 ::::
1111.... खुदरा िनवेशक के िलए उस ब6क अथवा (cid:30)ाथिमक डीलर, िजनके मा(cid:16)यम स े वे भाग लेना चाहत े ह6, के पास एक
संघटक सहायक सामा9य बही (सीएसजीएल) खाता रखना अिनवाय (cid:28) होगा। कोई भी िनवेशक इस 3क(cid:25)म के अधीन
HदनाHं कत (cid:30)ितभिू त क(cid:25) Hकसी नीलामी म # केवल एक बोली म # भाग ले सकता ह।ै इस आशय का वचन Hक िनवेशक केवल
एक बोली द ेरहा ह,ै ब6क अथवा (cid:30)ाथिमक डीलर 8ारा (cid:30)ा^ Hकया जाना और !रकाड (cid:28)म #रखा जाना होगा।
2. अपन े \ाहक स े (cid:30)ा^ प_े आडर(cid:28) के आधार पर (cid:30)$यके ब6क अथवा (cid:30)ाथिमक डीलर भारतीय !रजव(cid:28) ब6क कोर ब6Iकग
सो(यूशन (ई-कुबेर) (cid:30)णाली संबंधी इले(cid:29)Kॉिनक (cid:30)पC म# अपने \ाहक क(cid:25) ओर से एक एकल समेHकत अ(cid:30)ित3पधA बोली
(cid:30)3तुत करेगा। असाधारण प!रि3थितय , जैस े भारतीय !रजव(cid:28) ब6क कोर ब6Iकग सो(यूशन (ई-कुबरे ) (cid:30)णाली म # सामा9य
गड़बड़ी को छोड़कर, भौितक ]प म #अ(cid:30)ित3पधA बोली 3वीकार नह[ क(cid:25) जाएगी।
3. ब6क अथवा (cid:30)ाथिमक डीलर को अ(cid:30)ित3पधA खंड के अधीन आबंटन (cid:30)ितलाभ/क(cid:25)मत क(cid:25) उस भारािं शत औसत दर
पर होगा, जो (cid:30)ित3पधA बोली दने े के आधार पर नीलामी म #सामन ेआएगी। इस बात पर (cid:16)यान Hदए िबना Hक ब6क अथवा
(cid:30)ाथिमक डीलर ने अपन े \ाहक स ेभुगतान (cid:30)ा^ कर िलया ह ैया नह[, िनग(cid:28)म क(cid:25) तारीख को भुगतान (cid:30)ा^ करके ब6क या
(cid:30)ाथिमक डीलर को (cid:30)ितभूितया ंजारी क(cid:25) जाएंगी।
4. ऐस े मामल े म,# जहा ं बोली क(cid:25) रािश (cid:30)ारिYत रािश (अिधसिू चत रािश के 5 (cid:30)ितशत) स े अिधक ह ै यथानुपात
आबंटन Hकया जाएगा। आिं शक आबंटन के मामल े म,# यह ब6क अथवा (cid:30)ाथिमक डीलर का दािय$व होगा Hक वह अपन े
\ाहक को (cid:30)ितभूितय का उिचत आबंटन एक पारदशA तरीके स ेकर#।
5. ऐस ेमामल ेम #जहां बोली रािश (cid:30)ारिYत रािश स ेकम हो, कमी को (cid:30)ित3पधA भाग म #शािमल Hकया जाएगा।
6. (cid:30)ितभिू त को भारतीय !रजव(cid:28) ब6क 8ारा केवल एसजीएल ]प म # जारी Hकया जाएगा। भारतीय !रजव(cid:28) ब6क इस े या
तो ब6क अथवा (cid:30)ाथिमक डीलर के मु;य एसजीएल खात े अथवा सीएसजीएल खाते म # जमा करेगा,जैसाHक उनके 8ारा
िनदशM Hदया गया ह।ै मु;य एसजीएल खात े म # जमा करने क(cid:25) सुिवधा एकमाC उन िनवेशक क(cid:25) सेवा के (cid:30)योजनाथ (cid:28) ह ैजो
उनके घटक नह[ ह।6 अतः ब6क अथवा (cid:30)ाथिमक डीलर को अ(cid:30)ित3पधA बोिलय क(cid:25) िनिवदा दते े समय उनके एसजीएल
खात े और सीएसजीएल खाते म # जमा होन े वाली रािशय (अ(cid:9)ं कत मू(cid:14)य) को 3प. ट ]प स े दशा(cid:28)ना होगा। बाद म # िनवेशक
के अनरु ोध पर म;ु य एसजीएल खात ेस ेवा3तिवक ]प म #क(cid:25) गई सुपुदग(cid:28) ी 3वीकाय (cid:28)ह।ै
7. यह ब6क अथवा (cid:30)ाथिमक डीलर का दािय$व ह ै Hक वह \ाहक को (cid:30)ितभिू तया ं ह3तांत!रत करे। असाधारण
प!रि3थितय को छोड़कर, \ाहक को (cid:30)ितभिू तय का अंतरण िनगम(cid:28) क(cid:25) ितिथ स े पांच काय (cid:28) Hदवस के भीतर पूरा Hकया
जाएगा।
8. ब6क अथवा (cid:30)ाथिमक डीलर अपन े \ाहक को यह सेवा दने े के िलए छह पैस े(cid:30)ित सौ (cid:22)पए तक दलाली/कमीशन/सेवा
(cid:30)भार के ]प म #वसूल कर सकते ह।6 ऐसी क(cid:25)मत िब-(cid:25) मू(य म # शािमल क(cid:25) जा सकती है या \ाहक स ेअलग से वसलू क(cid:25)
जा सकती है। ऐस े मामल े म # जहा ं (cid:30)ितभिू तय का अंतरण (cid:30)ितभिू त क(cid:25) िनगम(cid:28) ितिथ के बाद (cid:30)भावी होता हो, ब6क या
(cid:30)ाथिमक डीलर को \ाहक 8ारा दये (cid:30)ितफल रािश म #िनगम(cid:28) ितिथ स ेउपिचत =याज शािमल होगा।
9. (cid:30)ितभिू तय क(cid:25) लागत, उपिचत =याज जहा ं भी लागू हो, तथा दलाली/कमीशन/सेवा (cid:30)भार के िलए \ाहक स े
भुगतान (cid:30)ा^ करन े क(cid:25) काय-(cid:28) (cid:30)णाली,ब6क या (cid:30)ाथिमक डीलर 8ारा \ाहक के साथ क(cid:25) गई सहमित के अनुसार तैयार क(cid:25)4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
जाएगी। यह उ(लेखनीय है Hक Hकसी अ9य लागत, जैस े िनिधकरण लागत को मू(य म # शािमल नह[ Hकया जाना चािहए
या \ाहक से वसूल नह[ Hकया जाना चािहए।
VVVV.... ब6क और (cid:30)ाथिमक डीलर को भारतीय !रजव(cid:28) ब6क (ब6क) 8ारा समय-समय पर मांगी गई योजना के तहत संचालन से
संबंिधत सूचना िनधा(cid:28)!रत समय सीमा के अंतग(cid:28)त ब6क को (cid:30)3तुत करनी होगी।
VVVVIIII.... ऊपर उि(लिखत HदशािनदशM ब6क 8ारा समीYा के अधीन ह ैऔर तQनसु ार, जब भी आव‘यकता होगी, योजना को संशोिधत
Hकया जाएगा।
-------
MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 17th December, 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 Tenure Date of Auction Auction Notified Amount
Security Issue (yy-mm-dd) Maturity Basis Method (in ` Crore)
6.65% GS 2020 Apr. 09, 2018 02-00-00 Apr. 09, 2020 Price Multiple 2,000
8.24% GS 2027 Feb. 15, 2007 20-00-00 Feb. 15, 2027 Price Multiple 2,000
7.95% GS 2032 Aug. 28, 2002 30-00-00 Aug. 28, 2032 Price Multiple 3,000
7.40% GS 2035 Sep. 09, 2005 30-00-00 Sep. 09, 2035 Price Multiple 2,000
8.13% GS 2045 Jun. 22, 2015 30-00-00 Jun. 22, 2045 Price Multiple 3,000
Subject to the limit of ` 12,000 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
December 21, 2018. Bids for the auction should be submitted in electronic format on the Reserve Bank of
India Core Banking Solution (E-Kuber) system on December 21, 2018. The non-competitive bids should be
submitted between 11.00 a.m. and 12.00 noon and the competitive bids should be submitted between 11.00
a.m. and 12.30 p.m.
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
December 21, 2018. The payment by successful bidders will be on December 24, 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 in¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
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.
Name of the Security Coupon rate Date of Last Date upto which Date of Coupon payments
(%) Coupon payment accrued interest is due (month/date)
6.65% GS 2020 6.65 Oct. 09, 2018 Dec. 23, 2018 Apr. 09 and Oct. 09
8.24% GS 2027 8.24 Aug. 15, 2018 Dec. 23, 2018 Feb. 15 and Aug. 15
7.95% GS 2032 7.95 Aug. 28, 2018 Dec. 23, 2018 Feb. 28 and Aug. 28
7.40% GS 2035 7.40 Sept. 09, 2018 Dec. 23, 2018 Mar. 09 and Sept. 09
8.13% GS 2045 8.13 Dec. 22, 2018 Dec. 23, 2018 Jun. 22 and Dec. 22
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 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 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 electronic6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
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.
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.