**Executive Summary:**
This document announces the sale/reissue of Government Stocks by the Government of India through an auction conducted by the Reserve Bank of India (RBI) on December 7, 2018. It outlines the terms and conditions for the sale, including eligibility for non-competitive bidding, and specifies operational guidelines for participating banks and Primary Dealers (PDs). The payment by successful bidders will be on December 10, 2018.
**Key Points / Main Content:**
* **Government Stock Sale/Reissue:**
* The Government of India is selling/reissuing several Government Stocks (GS).
* The total notified amount is subject to a limit of 12,000 crore.
* The Government has the option to retain additional subscriptions up to 1,000 crore against any one or more of the specified securities.
* **Auction Details:**
* The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on December 7, 2018.
* Bids must be submitted electronically via the RBI's e-Kuber system.
* Non-competitive bids: 10:30 a.m. - 11:30 a.m.
* Competitive bids: 10:30 a.m. - 12:00 noon.
* The results of the auction will be displayed on December 7, 2018, at the RBI's Mumbai office.
* Payment by successful bidders is due on December 10, 2018.
* **Non-Competitive Bidding Facility:**
* Up to 5% of the notified amount is reserved for non-competitive bids from eligible individuals and institutions.
* Eligibility criteria include not maintaining a current account or SGL account with the RBI (with exceptions for RRBs and Cooperative Banks).
* A single bid cannot exceed two crore face value per auction.
* Bids must be submitted indirectly through a bank or PD offering the scheme (except for certain RRBs and Cooperative Banks).
* The minimum bid amount is ₹10,000 face value and in multiples thereof.
* **Operational Guidelines for Banks/PDs (Non-Competitive Bidding):**
* Retail investors must maintain a CSGL account with the participating bank or PD.
* Banks/PDs submit a single, consolidated non-competitive bid for each security on behalf of their constituents.
* Allotment is at the weighted average rate of yield/price from the competitive bidding.
* Securities are issued against payment on the issue date, regardless of client payment.
* Banks/PDs are responsible for allocating securities to clients transparently and transferring securities within five working days of the issue date.
* Brokerage/service charges are capped at six paise per ₹100.
* **Interest and Repayment:**
* Interest accrues on the nominal value from the date of original issue/last coupon payment, paid half-yearly.
* Stocks will be repaid at par on the maturity date.
**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's terms.
* **Reserve Bank of India:**
* *Impact:* Responsible for conducting the auction and managing the issuance of government stocks.
* *Action Required:* Conduct the auction on December 7, 2018, display results, and manage the payment and issuance process.
* **Banks and Primary Dealers (PDs):**
* *Impact:* Act as intermediaries for non-competitive bids and facilitate retail participation.
* *Action Required:* Offer non-competitive bidding facilities to clients, submit consolidated bids, allocate securities transparently, and ensure timely transfer to clients.
* **Retail Investors and Institutions:**
* *Impact:* Opportunity to invest in government securities through non-competitive bidding.
* *Action Required:* Submit bids through eligible banks/PDs, ensure compliance with eligibility criteria, and maintain CSGL accounts.
Key Entities Referenced
Government of India: The issuer of the Government Stocks and the entity issuing the notification.
Ministry of Finance: The ministry under which the Department of Economic Affairs operates, responsible for the notification.
Department of Economic Affairs: The department within the Ministry of Finance that is responsible for the budget division and the notification.
Reserve Bank of India: The central bank responsible for conducting the auction and managing the government stocks.
Mumbai, Maharashtra: Location of the Reserve Bank of India office where the auction is conducted.
Government Stock: The type of security being sold/reissued in the auction.
General Notification F. No. 42WM 2018: A prior notification by the Government of India that specifies the general terms and conditions for the sale of government stocks.
EKuber System: 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. 382] NEW DELHI, MONDAY, DECEMBER 3, 2018/AGRAHAYANA 12, 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, 3 (cid:1)दस(cid:7) बर, 2018
ससससररररककककााााररररीीीी (cid:11)(cid:11)(cid:11)(cid:11)टटटटॉॉॉॉकककक ((((जजजजीीीीएएएएसससस)))) कककक(cid:14)(cid:14)(cid:14)(cid:14) ििििबबबब(cid:17)(cid:17)(cid:17)(cid:17)(cid:14)(cid:14)(cid:14)(cid:14) ((((पपपपननुुननुु (cid:2)(cid:2)(cid:2)(cid:2)ननननगगगगमम(cid:7)(cid:7)मम(cid:7)(cid:7) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
एएएएफफफफ....ससससंं..ंं..4444((((6666))))----डडडड(cid:23)(cid:23)(cid:23)(cid:23)(cid:25)(cid:25) (cid:25)(cid:25) यय यय एएूूएएूू ंडंडंडंडएएएएमममम////2222000011118888....—भारत सरकार एतद(cid:12)ारा नीच े (cid:1)दए गए अनसु ार सरकारी (cid:22)टॉक, क(cid:25) िब(cid:27)(cid:25) ((((पपपपननुुननुु (cid:4)(cid:4)(cid:4)(cid:4)ननननगगगगमम(cid:6)(cid:6)मम(cid:6)(cid:6) ))))
अिधसिू चत करती ह।ै
(cid:28)ितभिू त का नाम मलू िनगम क(cid:25) मलू अविध प$रप%ता क(cid:25) नीलामी नीलामी क(cid:25) अिधसिू चत
तारीख (वष -माह-(cid:1)दन) तारीख का आधार िविध रािश करोड़ )
(म&
8.24% सरकारी (cid:28)ितभिू त 2027 15 फरवरी, 2007 20-00-00 15 फरवरी, 2027 मू(cid:3)य िविवध 3,000
7.17% सरकारी (cid:28)ितभिू त 2028 08 जनवरी, 2018 10-00-00 08 जनवरी, 2028 मू(cid:3)य िविवध 4,000
7.50% सरकारी (cid:28)ितभिू त 2034 10 अग(cid:22)त, 2004 30-00-00 10 अग(cid:22)त, 2034 मू(cid:3)य िविवध 2,000
7.72% सरकारी (cid:28)ितभिू त 2055 26 अ(ूबर, 2015 40-00-00 26 अ(ूबर, 2055 मू(cid:3)य िविवध 3,000
कुल अिधसिू चत रािश के अ(cid:16)यधीन 12,000 करोड़ (cid:22)पए क(cid:25) सीमा तक भारत सरकार, उपयु(cid:28)(cid:29)त एक या अिधक
(cid:30)ितभूितय के प!रपे" य म# (cid:30)$ येक म# 1,000 करोड़ (cid:22)पए तक के अित!र% अिभदान का िवक(प बनाए रखगे ी। यह
िब-(cid:25) इस अिधसूचना (िजसे 'िविश. ट अिधसूचना' कहा गया ह)ै म # उि(लिखत शत0 के अधीन होगी। इस 3टॉक क(cid:25)
7037 GI/18 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
िब-(cid:25) भारतीय !रजव (cid:28) ब6क, मुंबई काया(cid:28)लय, फोट(cid:28), मुंबई-400001 के मा(cid:16)यम से भारत सरकार 8ारा जारी सामा9य
अिधसूचना एफ.सं;या 4(2)-ड=(य ू ए>ड एम/2018, तारीख 27 माच(cid:28) 2018 म # िन?द@ शत0 के अधीन क(cid:25) जाएगी।
अअअअ(cid:11)(cid:11)(cid:11)(cid:11)िििितततत(cid:13)(cid:13)(cid:13)(cid:13)पपपपधधधध(cid:16)(cid:16)(cid:16)(cid:16) बबबबोोोोललललीीीीददददाााातततताााा(cid:21)(cid:21)(cid:21)(cid:21) ककककोोोो आआआआबबबबटटंंटटंं नननन
2. सरकारी (cid:30)ितभूितय क(cid:25) नीलािमय म # अ(cid:30)ित3पधA बोली दने े क(cid:25) सुिवधा क(cid:25) संलB 3क(cid:25)म (अनुबंध) के अनुसार,
िब-(cid:25) क(cid:25) अिधसूिचत रािश का 5 (cid:30)ितशत तक सरकारी 3टॉक पाC Dय ि%य और स3ं थाF को आबं!टत Hकया जाएगा ।
ननननीीीीललललााााममममीीीी ककककाााा (cid:13)(cid:13)(cid:13)(cid:13)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय !रजव (cid:28) ब6क, मुंबई काया(cid:28)लय, फोट(cid:28), मुंबई-400001 8ारा 7777 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बबबबरररर,,,, 2222000011118888 को संचािलत क(cid:25)
जाएगी। नीलामी हते ु बोिलयां भारतीय !रजव (cid:28) ब6क कोर ब6Iकग सो(यूशन (ई-कुबरे ) (cid:30)णाली सबं ंधी इले(cid:29)Kॉिनक (cid:30)पC म #
7777 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बबबबरररर,,,, 2222000011118888 को (cid:30)3ततु क(cid:25) जानी चािहए। अ(cid:30)ित3पधA बोिलया ं पपपपववूूववूू ाााा(cid:30)(cid:30)(cid:29)(cid:29)(cid:30)(cid:30)(cid:29)(cid:29) नननन 11110000....33330000 बबबबजजजज ेेेे से पूवा(cid:28)Lन 11111111....33330000 बबबबजजजज ेेेे के
बीच और (cid:30)ित3पधA बोिलया ं पूवा(cid:28)Lन 11110000....33330000 बज ेसे ददददोोोोपपपपहहहहरररर 11112222....00000000 बज ेके बीच (cid:30)3ततु क(cid:25) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:29)(cid:29)िि(cid:29)(cid:29) ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह 3टॉक, भारतीय !रजव (cid:28)ब6क 8ारा जारी HदशािनदMश के अनुसार, 'कब िनग(cid:28)िमत’ कारोबार के िलए पाC होगा।
ििििननननगगगगमम(cid:29)(cid:29)मम(cid:29)(cid:29) कककक!!!! ततततााााररररीीीीखखखख औऔऔऔरररर (cid:13)(cid:13)(cid:13)(cid:13)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प!रणाम भारतीय !रजव(cid:28) ब6क 8ारा अपने फोट(cid:28) ि3थत मबुं ई काया(cid:28)लय म# 7777 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बबबबरररर,,,, 2222000011118888 को (cid:30)दOशत
Hकया जाएगा। सफल बोलीदाताF 8ारा भुगतान 11110000 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बबबबरररर,,,, 2222000011118888 अथा(cid:28)त ् पपपपननुुननुु %%%%ननननगगगगमम(cid:29)(cid:29)मम(cid:29)(cid:29) क(cid:25) तारीख को Hकया जाएगा।
3टॉक के िलए भगु तान म# नीलामी म# आबं!टत 3टॉक के अंHकत मू(य पर, मूलिनग(cid:28)म/अंितम कूपन भगु तान क(cid:25) तारीख स े
(cid:30)ोQभूत =याज दये होने क(cid:25) तारीख तक (cid:30)ोQभूत =याज शािमल होगा जैसा Hक पैरा 6 म# तािलका म# उि(लिखत ह।ै
&&&&ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:13)(cid:13)(cid:13)(cid:13)टटटटॉॉॉॉकककक ककककाााा पपपपननुुननुु भभभभगगु(cid:29)ु(cid:29)गगु(cid:29)ु(cid:29) तततताााानननन
6. मूल Oनग(cid:28)म/अंितम कूपन भुगतान क(cid:25) तारीख से 3टॉक के अंHकत मू(य पर =याज (cid:30)ोQभूत होगा तथा इसका भगु तान
अTव(cid:28) ाOषक आधार पर Hकया जाएगा। 3टॉक का पुनभगु(cid:28) तान प!रपVता क(cid:25) तारीख पर सममू(य पर Hकया जाएगा।
(cid:28)ितभूित का नाम कूपन दर अ ंि त म कूपन भुगतान (cid:1)कस तारीख तक (cid:28)ो+भूत कूपन भुगतान क(cid:25) तारीख
(%) क(cid:25) तारीख ,याज देय ह ै (तारीख/माह)
8.24% सरकारी (cid:28)ितभिू त 8.24 15 अग(cid:22)त, 2018 09 (cid:1)दस(cid:7)बर, 2018 15 फरवरी और 15 अग(cid:22)त
2027
7.17% सरकारी (cid:28)ितभिू त 7.17 08 जुलाई, 2018 09 (cid:1)दस(cid:7)बर, 2018 08 जनवरी और 08 जुलाई
2028
7.50% सरकारी (cid:28)ितभिू त 7.50 10 अग(cid:22)त, 2018 09 (cid:1)दस(cid:7)बर, 2018 10 फरवरी और 10 अग(cid:22)त
2034
7.72% सरकारी (cid:28)ितभिू त 7.72 26 अ(ूबर, 2018 09 (cid:1)दस(cid:7)बर, 2018 26 अ(cid:28)ैल और 26 अ(ूबर
2055
भारत के रा0पित के आदशे स,े
अर1वद 2ीवा(cid:22)तव, संयु( सिचव¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी (cid:11)(cid:11)(cid:11)(cid:11)ििििततततभभभभििूूििूू ततततयययय++++ कककक!!!! ननननीीीीललललााााममममीीीी मममम ,, ,,अअअअ(cid:11)(cid:11)(cid:11)(cid:11)िििितततत(cid:13)(cid:13)(cid:13)(cid:13)पपपपधधधध(cid:16)(cid:16)(cid:16)(cid:16) बबबबोोोोललललीीीी ससससििुुििुु ववववधधधधाााा (cid:13)(cid:13)(cid:13)(cid:13)कककक!!!!मममम
IIII.... ककककाााायययय(cid:29)-(cid:29)-(cid:29)-(cid:29)-(cid:6)(cid:6)ेे(cid:6)(cid:6)ेे :::: सरकारी (cid:30)ितभूितय क(cid:25) Wापक भागीदारी और खुदरा धा!रता को (cid:30)ो$साहन दने े क(cid:25) दिृ @ से भारत
सरकार क(cid:25) HदनाHं कत (cid:30)ितभूितय क(cid:25) चयिनत नीलािमय म # "अ(cid:30)ित3पधA" आधार पर भागीदारी क(cid:25) अनुमित दने े
का (cid:30)3ताव Hकया गया ह।ै तQनुसार, HदनांHकत (cid:30)ितभूितय क(cid:25) नीलािमय म # अिधसूिचत रािश के 5 (cid:30)ितशत तक क(cid:25)
अ(cid:30)ित3पधA बोिलया ं3वीकार क(cid:25) जाएगं ी। (cid:30)ारिYत रािश अिधसूिचत रािश के अअअअ////ततततगगगगतत(cid:29)(cid:29)तत(cid:29)(cid:29) होगी।
IIIIIIII.... पपपपाााा(cid:6)(cid:6)(cid:6)(cid:6)तततताााा :::: भारत सरकार क(cid:25) HदनांHकत (cid:30)ितभूितय क(cid:25) नीलािमय म # अ(cid:30)ित3पधA आधार पर ऐसे िनवेशक के
िलए भागीदारी खुली होगी जो िनZिलिखत शत0 को पूरा करते ह:6
1. जो भारतीय !रजव (cid:28) ब6क के पास चालू खाता (सीए) अथवा सहायक सामा9य बही (एसजीएल) खाता
नह[ रखत ेह;6
अअअअपपपपववववाााादददद:::: YेCीय \ामीण ब6क (आरआरबी) और सहकारी ब6क को उनके सांिविधक दािय$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 लगात े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 से अपनी बोली
अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े(cid:30)3तुत करत े ह।6
अअअअपपपपववववाााादददद:::: ऐसे YेCीय \ामीण ब6क (आरआरबी) तथा सहकारी ब6क जो भारतीय !रजव (cid:28) ब6क म#
एस.जी.एल.खाता और चालू खाता रखत े ह,6 अपनी अ(cid:30)ित3पधA बोिलय को (cid:30)$यY ]प से (cid:30)3तुत करन े के
िलए पाC ह गे।
IIIIIIIIIIII.... 0000ाााापपपपककककतततताााा:::: उपयु(cid:28)% शत0 के अधीन "अ(cid:30)ित3पधA" आधार पर फम0, कंपिनय , िनगिमत िनकाय , स3ं थाF,
भिव.य िनिधय , 9यास और भारतीय !रजव (cid:28) ब6क 8ारा यथा-िनधा(cid:28)!रत Hकसी अ9य कंपनी सिहत Hकसी भी Wि% के
िलए भागीदारी खुली ह।ै बोली दने े क(cid:25) 9यूनतम रािश 10,000 (cid:22)पए (अंHकत मू(य) और उसके बाद 10,000 (cid:22)पए
के गुणज म # होगी जैसा अब तक HदनांHकत 3टॉक के िलए ह।ै
IIIIVVVV.... अअअअ////यययय (cid:11)(cid:11)(cid:11)(cid:11)चचचचााााललललननननाााा2222ममममकककक (cid:24)(cid:24)(cid:24)(cid:24)ददददशशशशााााििििननननदददद4श4श4श4श::::
1111.... खुदरा िनवेशक के िलए उस बक6 अथवा (cid:30)ाथिमक डीलर, िजनके मा(cid:16)यम स े व े भाग लेना चाहते ह,6 के
पास एक संघटक सहायक सामा9य बही (सीएसजीएल) खाता रखना अिनवाय (cid:28) होगा। कोई भी िनवेशक इस
3क(cid:25)म के अधीन HदनाHं कत (cid:30)ितभूित क(cid:25) Hकसी नीलामी म# केवल एक बोली म # भाग ले सकता ह।ै इस आशय का
वचन Hक िनवेशक केवल एक बोली द े रहा ह,ै बक6 अथवा (cid:30)ाथिमक डीलर 8ारा (cid:30)ा^ Hकया जाना और !रकाड (cid:28)
म # रखा जाना होगा।
2. अपने \ाहक से (cid:30)ा^ प_े आड(cid:28)र के आधार पर (cid:30)$येक ब6क अथवा (cid:30)ाथिमक डीलर भारतीय !रजव (cid:28) ब6क
कोर ब6Iकग सो(यूशन (ई-कुबेर) (cid:30)णाली सबं ंधी 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 ब6Iकग4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
सो(यूशन (ई-कुबेर) (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 भारांिशत
औसत दर पर होगा, जो (cid:30)ित3पधA बोली दने े के आधार पर नीलामी म # सामने आएगी। इस बात पर (cid:16)यान
Hदए िबना Hक ब6क अथवा (cid:30)ाथिमक डीलर ने अपने \ा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) जाएगं ी।
4. ऐसे मामले म,# जहां बोली क(cid:25) रािश (cid:30)ारिYत रािश (अिधसूिचत रािश के 5 (cid:30)ितशत) स े अिधक ह ै
यथानुपात आबंटन Hकया जाएगा। आंिशक आबंटन के मामले म,# यह ब6क अथवा (cid:30)ाथिमक डीलर का दािय$व
होगा Hक वह अपने \ाहक को (cid:30)ितभूितय का उिचत आबंटन एक पारदशA तरीके से कर#।
5. ऐसे मामले म # जहां बोली रािश (cid:30)ारिYत रािश स े कम हो, कमी को (cid:30)ित3पधA भाग म# शािमल Hकया
जाएगा।
6. (cid:30)ितभूित को भारतीय !रजव (cid:28) ब6क 8ारा केवल एसजीएल ]प म # जारी Hकया जाएगा। भारतीय !रजव (cid:28)
ब6क इसे या तो ब6क अथवा (cid:30)ाथिमक डीलर के मु;य एसजीएल खाते अथवा सीएसजीएल खाते म # जमा
करेगा,जैसाHक उनके 8ारा िनदशM Hदया गया ह।ै मु;य एसजीएल खात े म# जमा करन े क(cid:25) सुिवधा एकमाC उन
िनवेशक क(cid:25) सवे ा के (cid:30)योजनाथ (cid:28) ह ै जो उनके घटक नह[ ह।6 अतः ब6क अथवा (cid:30)ाथिमक डीलर को अ(cid:30)ित3पधA
बोिलय क(cid:25) िनिवदा दते े समय उनके एसजीएल खाते और सीएसजीएल खात े म# जमा होने वाली रािशय
(अं(cid:9)कत मू(cid:14)य) को 3प. ट ]प स े दशा(cid:28)ना होगा। बाद म # िनवेशक के अनुरोध पर मु;य एसजीएल खाते से
वा3तिवक ]प म # क(cid:25) गई सुपुदग(cid:28) ी 3वीकाय (cid:28)ह।ै
7. यह ब6क अथवा (cid:30)ाथिमक डीलर का दािय$व ह ै Hक वह \ाहक को (cid:30)ितभूितया ं ह3तातं !रत करे। असाधारण
प!रि3थितय को छोड़कर, \ाहक को (cid:30)ितभूितय का अंतरण िनग(cid:28)म क(cid:25) ितिथ स े पांच काय(cid:28) Hदवस के भीतर
पूरा Hकया जाएगा।
8. ब6क अथवा (cid:30)ाथिमक डीलर अपने \ाहक को यह सवे ा दने े के िलए छह पैसे (cid:30)ित सौ (cid:22)पए तक
दलाली/कमीशन/सवे ा (cid:30)भार के ]प म# वसूल कर सकत े ह।6 ऐसी क(cid:25)मत िब-(cid:25) मू(य म # शािमल क(cid:25) जा सकती ह ै
या \ाहक स े अलग स े वसूल क(cid:25) जा सकती ह।ै ऐसे मामले म # जहां (cid:30)ितभूितय का अंतरण (cid:30)ितभूित क(cid:25) िनग(cid:28)म
ितिथ के बाद (cid:30)भावी होता हो, ब6क या (cid:30)ाथिमक डीलर को \ाहक 8ारा दये (cid:30)ितफल रािश म # िनग(cid:28)म ितिथ स े
उपिचत =याज शािमल होगा।
9. (cid:30)ितभूितय क(cid:25) लागत, उपिचत =याज जहां भी लाग ू हो, तथा दलाली/कमीशन/सवे ा (cid:30)भार के िलए
\ाहक से 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) जाएगी। यह उ(लेखनीय ह ै Hक Hकसी अ9य लागत, जैसे ि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 स ेसबं ंिधत 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 तQनुसार, जब भी आव‘यकता होगी, योजना
को संशोिधत Hकया 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 3rd 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)
8.24% GS 2027 Feb. 15, 2007 20-00-00 Feb. 15, 2027 Price Multiple 3,000
7.17% GS 2028 Jan. 08, 2018 10-00-00 Jan. 08, 2028 Price Multiple 4,000
7.50% GS 2034 Aug.10, 2004 30-00-00 Aug. 10, 2034 Price Multiple 2,000
7.72% GS 2055 Oct. 26, 2015 40-00-00 Oct. 26, 2055 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 7, 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 7, 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
December 7, 2018. The payment by successful bidders will be on December 10, 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.
Name of the Security Coupon rate Date of Last Date upto which Date of Coupon payments
(%) Coupon payment accrued interest is due (month/date)
8.24% GS 2027 8.24 Aug. 15, 2018 Dec. 09, 2018 Feb. 15 and Aug. 15
7.17% GS 2028 7.17 Jul. 08, 2018 Dec. 09, 2018 Jan. 08 and Jul. 08
7.50% GS 2034 7.50 Aug. 10, 2018 Dec. 09, 2018 Feb. 10 and Aug. 10
7.72% GS 2055 7.72 Oct. 26, 2018 Dec. 09, 2018 Apr. 26 and Oct. 26
By Order of the President of India,
ARVIND SHRIVASTAVA, Jt. Secy.6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
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 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.
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.¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 7
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.