**Executive Summary:**
This notification from the Indian Ministry of Finance announces the sale/reissue of Government Stocks through an auction conducted by the Reserve Bank of India (RBI) on December 28, 2018, with payment due on December 31, 2018. It specifies the terms and conditions for the sale, including allotment to non-competitive bidders, and provides guidelines for participation in the auction. The notification also includes a scheme to encourage wider participation and retail holding of Government securities through noncompetitive bidding.
**Key Points / Main Content:**
* **Auction Details:**
* Government of India is selling/reissuing specified Government Stocks.
* The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on December 28, 2018.
* Electronic bids must be submitted through the RBI's EKuber system on December 28, 2018.
* Payment by successful bidders is due on December 31, 2018.
* **Government Stocks for Sale/Reissue:**
* 7.37 GS 2023 maturing on April 16, 2023; Notified Amount: 3,000 crore
* 7.17 GS 2028 maturing on January 08, 2028; Notified Amount: 4,000 crore
* 8.24 GS 2033 maturing on November 10, 2033; Notified Amount: 2,000 crore
* 7.06 GS 2046 maturing on October 10, 2046; Notified Amount: 3,000 crore
* The government retains the option to retain additional subscriptions up to 1,000 crore against any one or more of the above securities, subject to a limit of 12,000 crore.
* **Non-Competitive Bidding:**
* Up to 5% of the notified amount is reserved for non-competitive bidders.
* Non-competitive bids should be between 11:30 a.m. and 12:00 noon.
* Competitive bids should be between 11:30 a.m. and 12:30 p.m.
* Minimum bid amount is 10,000 face value and in multiples thereof.
* Non-competitive bidding is open to those who do not maintain a current account (CA) or Subsidiary General Ledger (SGL) account with the RBI. Regional Rural Banks (RRBs) and Cooperative Banks are exceptions.
* A single bid should not be more than two crore face value per auction.
* **Interest and Repayment:**
* Interest accrues on the nominal value of the stock and is paid half-yearly.
* Stocks will be repaid at par on the date of maturity.
* **When Issued Trading:**
* The Stocks will be eligible for When Issued trading as per RBI guidelines.
**Impact Analysis:**
* **Government of India:**
* *Impact:* The Government is able to raise funds through the sale/reissue of government stocks.
* *Action Required:* Oversee the auction process and ensure compliance with the stated terms and conditions.
* **Reserve Bank of India (RBI):**
* *Impact:* The RBI is responsible for conducting the auction and managing the allotment process.
* *Action Required:* Conduct the auction on December 28, 2018, display the results, and manage the payment process.
* **Banks and Primary Dealers (PDs):**
* *Impact:* Banks and PDs can participate in the auction and facilitate non-competitive bidding for their clients.
* *Action Required:* Submit consolidated non-competitive bids on behalf of their constituents, allocate securities to clients, and furnish information to the RBI as required.
* **Investors (Individuals, Institutions, etc.):**
* *Impact:* Investors have the opportunity to invest in government securities through competitive and non-competitive bidding.
* *Action Required:* Submit bids through eligible banks or PDs, comply with the non-competitive bidding scheme requirements, and make payments on the specified date.
Key Entities Referenced
Reserve Bank of India: The central bank of India, which conducts the auction for Government Stocks.
Mumbai, Maharashtra: The city in India where the Reserve Bank of India's office is located for conducting the auction.
Ministry of Finance: The ministry under which the Department of Economic Affairs and Budget Division operate.
Department of Economic Affairs: A department within the Ministry of Finance.
Budget Division: A division within the Department of Economic Affairs of the Ministry of Finance.
Government Stock: Securities being sold/reissued through auction.
Arvind Shrivastava: The Joint Secretary who signed the notification on behalf of the President of India.
EKuber: Reserve Bank of India Core Banking Solution for submitting bids.
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PART I—Section 1
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No. 404] NEW DELHI, MONDAY, DECEMBER 24, 2018/PAUSHA 3, 1940
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:6)(cid:6)ंं(cid:6)(cid:6)ंं ााााललललयययय
((((आआआआ(cid:11)(cid:11)(cid:11)(cid:11)थथथथकककक ककककाााायययय (cid:14)(cid:14)(cid:14)(cid:14)ििििववववभभभभाााागगगग))))
((((बबबबजजजजटटटट (cid:15)(cid:15)(cid:15)(cid:15)भभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 24 (cid:1)दस(cid:7)बर, 2018
ससससररररककककााााररररीीीी (cid:22)(cid:22)(cid:22)(cid:22)टटटटॉॉॉॉकककक ((((जजजजीीीी एएएएसससस)))) कककक(cid:25)(cid:25)(cid:25)(cid:25) ििििबबबब(cid:27)(cid:27)(cid:27)(cid:27)(cid:25)(cid:25)(cid:25)(cid:25) ((((पपपपननननुुुु (cid:11)(cid:11)(cid:11)(cid:11)ननननगगगगमम(cid:14)(cid:14)मम(cid:14)(cid:14) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
एएएएफफफफ.... सससस..ंं..ंं 4444((((6666))))----डडडड !! !! यय यय ूूूूएएएएंडंडंडंड एएएएमममम////2222000011118888....————भारत सरकार एत(cid:12)ारा नीचे (cid:1)दए गए अनुसार सरकारी (cid:22)टॉक, क(cid:25) िब(cid:27)(cid:25)
(पुन(cid:29)नगम(cid:30) ) अिधसिू चत करती ह।ै
(cid:1)ितभूित का नाम मूल िनग(cid:13)म क(cid:14) मूल अविध प(cid:20)रप(cid:22)ता क(cid:14) नीलामी नीलामी अिधसूिचत
तारीख (वष(cid:13)-माह-(cid:17)दन) तारीख का क(cid:14) रािश
आधार िविध (करोड़ म(cid:25))
7.37% सरकारी (cid:1)ितभूित 2023 16 अ(cid:1)ैल, 2018 05-00-00 16 अ(cid:1)ैल, 2023 मू(cid:28)य िविवध 3,000
7.17% सरकारी (cid:1)ितभूित 2028 08 जनवरी, 2018 10-00-00 08 जनवरी, 2028 मू(cid:28)य िविवध 4,000
8.24% सरकारी (cid:1)ितभूित 2033 10 नव(cid:30)ब र, 2014 19-00-00 10 नव(cid:30) बर, 2033 मू(cid:28)य िविवध 2,000
7.06% सरकारी (cid:1)ितभूित 2046 10 अ त ूबर, 2016 30-00-00 10 अ तबू र, 2046 मू(cid:28)य िविवध 3,000
कुल अिधसिू चत रािश के अ#यधीन 12,000 करोड़ ’पए क(cid:25) सीमा तक भारत सरकार, उपयु(cid:30)) त एक या अिधक
*ितभिू तय, के प-रपे.य म/ *0य के म/ 1,000 करोड़ ’पए तक के अित-र1 अिभदान का िवक(cid:3)प बनाए रखेगी। यह िब(cid:27)(cid:25) इस
अिधसूचना (िजस े 'िविश5ट अिधसूचना' कहा गया ह)ै म / उि(cid:3)लिखत शत6 के अधीन होगी। इस (cid:22)टॉक क(cid:25) िब(cid:27)(cid:25) भारतीय -रजव(cid:30)
7554 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
ब:क, मुंबई कायाल(cid:30) य, फोट(cid:30), मुंबई-400001 के मा#यम स े भारत सरकार <ारा जारी सामा=य अिधसूचना एफ. स?ं या 4(2)-
डA(cid:3)यू एBड एम/2018, तारीख 27 माच (cid:30)2018 म /िनCदD शत6 के अधीन क(cid:25) जाएगी।
अअअअ(cid:15)(cid:15)(cid:15)(cid:15)िििितततत(cid:22)(cid:22)(cid:22)(cid:22)पपपपधधधध&&&& बबबबोोोोललललीीीीददददाााातततताााा)))) ककककोोोो आआआआबबबबटटंंटटंं नननन
2. सरकारी *ितभूितय, क(cid:25) नीलािमय, म / अ*ित(cid:22)पधE बोली दने े क(cid:25) सिु वधा क(cid:25) संलF (cid:22)क(cid:25)म (अनुबंध) के अनुसार,
िब(cid:27)(cid:25) क(cid:25) अिधसिू चत रािश का 5 *ितशत तक सरकारी (cid:22)टॉक पाG H यि1य, और सं(cid:22)थाJ को आबं-टत (cid:1)कया जाएगा ।
ननननीीीीललललााााममममीीीी ककककाााा (cid:22)(cid:22)(cid:22)(cid:22)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय -रजव(cid:30) ब:क, मुंबई काया(cid:30)लय, फोट(cid:30), मुंबई-400001 <ारा 28 (cid:1)दस(cid:7)बर, 2018 को संचािलत
क(cid:25) जाएगी। नीलामी हते ु बोिलया ं भारतीय -रजव(cid:30) ब:क कोर ब:Lकग सो(cid:3)यूशन (ई-कुबेर) *णाली संबंधी इले)Nॉिनक *पG म /
28 (cid:1)दस(cid:7)बर, 2018 को *(cid:22)तुत क(cid:25) जानी चािहए। अ*ित(cid:22)पधE बोिलया ं पूवा(cid:30)Oन 11.30 बजे से दोपहर 12.00 बजे के बीच
और *ित(cid:22)पधE बोिलया ंपूवा(cid:30)Oन 11.30 बजे स ेम#याOन 12.30 बजे के बीच *(cid:22)तुत क(cid:25) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:14)(cid:14)िि(cid:14)(cid:14) ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:22)टॉक, भारतीय -रजव(cid:30) ब:क <ारा जारी (cid:1)दशािनदशP , के अनसु ार, 'कब िनगि(cid:30) मत’ कारोबार के िलए पाG होगा।
ििििननननगगगगमममम(cid:14)(cid:14)(cid:14)(cid:14) कककक(cid:25)(cid:25)(cid:25)(cid:25) ततततााााररररीीीीखखखख औऔऔऔरररर (cid:22)(cid:22)(cid:22)(cid:22)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प-रणाम भारतीय -रजव(cid:30) ब:क <ारा अपने फोट(cid:30) ि(cid:22)थत मुंबई कायाल(cid:30) य म / 28 (cid:1)दस(cid:7)बर, 2018 को
*द(cid:29)शत (cid:1)कया जाएगा। सफल बोलीदाताJ <ारा भुगतान 31 (cid:1)दस(cid:7)बर, 2018 अथात(cid:30) ्पुन(cid:29)नग(cid:30)म 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 िनगम(cid:30) /अंितम कूपन भुगतान क(cid:25) तारीख स े
*ोSभूत Aयाज दये होने क(cid:25) तारीख तक *ोSभूत Aयाज शािमल होगा जैसा (cid:1)क पैरा 6 म /तािलका म/ उि(cid:3)लिखत ह।ै
ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:22)(cid:22)(cid:22)(cid:22)टटटटॉॉॉॉकककक ककककाााा पपपपननननुुुु भभभभगगु(cid:14)ु(cid:14)गगु(cid:14)ु(cid:14) तततताााानननन
6. मूल (cid:29)नगम(cid:30) /अंितम कूपन भुगतान क(cid:25) तारीख स े (cid:22)टॉक के अ(cid:1)ं कत मू(cid:3)य पर Aयाज *ोSभूत होगा तथा इसका
भुगतान अVव(cid:30) ा(cid:29)षक आधार पर (cid:1)कया जाएगा। (cid:22)टॉक का पनु भगु(cid:30) तान प-रपXता क(cid:25) तारीख पर सममू(cid:3)य पर (cid:1)कया जाएगा।
(cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििूूििूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअ अअ ििंंििंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन (cid:15)(cid:15)(cid:15)(cid:15)ककककसससस ततततााााररररीीीीखखखख ततततकककक (cid:1)(cid:1)(cid:1)(cid:1)ोोोो(cid:18)(cid:18)(cid:18)(cid:18)भभभभततूूततूू ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:11)(cid:11)(cid:11)(cid:11) ततततााााररररीीीीखखखख
((((%%%%)))) कककक(cid:11)(cid:11)(cid:11)(cid:11) ततततााााररररीीीीखखखख (cid:19)(cid:19)(cid:19)(cid:19)ययययााााजजजज ददददेयेयेयेय हहहह ैैैै ((((ततततााााररररीीीीखखखख////ममममााााहहहह))))
7.37% सरकारी (cid:1)ितभूित 2023 7.37 16 अ तबू र, 2018 30 (cid:17)दस(cid:30)बर, 2018 16 अ(cid:1)ैल और 16 अ तूबर
7.17% सरकारी (cid:1)ितभूित 2028 7.17 08 जुलाई, 2018 30 (cid:17)दस(cid:30)बर, 2018 08 जनवरी और 08 जुलाई
8.24% सरकारी (cid:1)ितभूित 2033 8.24 10 नव(cid:30) बर, 2018 30 (cid:17)दस(cid:30)बर, 2018 10 मई और 10 नव(cid:30) बर
7.06% सरकारी (cid:1)ितभूित 2046 7.06 10 अ तबू र, 2018 30 (cid:17)दस(cid:30)बर, 2018 10 अ(cid:1)ैल और 10 अ तूबर
भारत के राYपित के आदशे स,े
अरZवद [ीवा(cid:22)तव, संयु1 सिचव
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी (cid:15)(cid:15)(cid:15)(cid:15)ििििततततभभभभििििूूूूततततयययय,,,, कककक(cid:25)(cid:25)(cid:25)(cid:25) ननननीीीीललललााााममममीीीी मममम ----अअअअ(cid:15)(cid:15)(cid:15)(cid:15)िििितततत(cid:22)(cid:22)(cid:22)(cid:22)पपपपधधधध&&&& बबबबोोोोललललीीीी ससससििुुििुुववववधधधधाााा (cid:22)(cid:22)(cid:22)(cid:22)कककक(cid:25)(cid:25)(cid:25)(cid:25)मममम
IIII.... ककककाााायययय..(cid:14)(cid:14)..(cid:14)(cid:14) (cid:6)(cid:6)ेे(cid:6)(cid:6)ेे :::: सरकारी *ितभूितय, क(cid:25) \ापक भागीदारी और खुदरा धा-रता को *ो0साहन देने क(cid:25) दिृ D स े भारत
सरकार क(cid:25) (cid:1)दना(cid:1)ं कत *ितभिू तय, क(cid:25) चयिनत नीलािमय, म / "अ*ित(cid:22)पधE" आधार पर भागीदारी क(cid:25) अनमु ित दने े का
*(cid:22)ताव (cid:1)कया गया ह।ै तSनसु ार, (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)पधE बोिलया ं(cid:22)वीकार क(cid:25) जाएंगी। *ारि^त रािश अिधसिू चत रािश के अ=तग(cid:30)त होगी।¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
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)पधE आधार पर ऐस ेिनवेशक, के
िलए भागीदारी खुली होगी जो िन_िलिखत शत6 को पूरा करत ेह::
1. जो भारतीय -रजव(cid:30) ब:क के पास चालू खाता (सीए) अथवा सहायक सामा=य बही (एसजीएल) खाता नह‘
रखत ेह;:
अअअअपपपपववववाााादददद:::: ^ेGीय aामीण ब:क, (आरआरबी) और सहकारी ब:क, को उनके सािं विधक दािय0व, के दिृ Dगत 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;:
3. जो यह (cid:22)क(cid:25)म *दान करने वाल े (cid:1)कसी एक ब:क अथवा *ाथिमक डीलर के मा#यम स े अपनी बोली अ(cid:2)(cid:3)य(cid:5)
(cid:6)प स े *(cid:22)तुत करत ेह।:
अअअअपपपपववववाााादददद:::: ऐस े ^ेGीय aामीण ब:क (आरआरबी) तथा सहकारी ब:क जो भारतीय -रजव(cid:30) ब:क म / एस.जी.एल.खाता
और चालू खाता रखते ह,: अपनी अ*ित(cid:22)पधE बोिलय, को *0य^ bप स े*(cid:22)तुत करन ेके िलए पाG ह,गे।
IIIIIIIIIIII.... 0000ाााापपपपककककतततताााा:::: उपयु(cid:30)1 शत6 के अधीन "अ*ित(cid:22)पधE" आधार पर फम6, कंपिनय,, िनगिमत िनकाय,, सं(cid:22)थाJ,
भिव5य िनिधय,, =यास, और भारतीय -रजव(cid:30) ब:क <ारा यथा-िनधा(cid:30)-रत (cid:1)कसी अ=य कंपनी सिहत (cid:1)कसी भी \ि1 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 (cid:15)(cid:15)(cid:15)(cid:15)चचचचााााललललननननाााा3333ममममकककक 4444ददददशशशशााााििििननननददददशश66शश66 ::::
1. खुदरा िनवेशक के िलए उस ब:क अथवा *ाथिमक डीलर, िजनके मा#यम स े वे भाग लेना चाहत े ह,: के पास
एक संघटक सहायक सामा=य बही (सीएसजीएल) खाता रखना अिनवाय (cid:30) होगा। कोई भी िनवशे क इस (cid:22)क(cid:25)म
के अधीन (cid:1)दना(cid:1)ं कत *ितभूित 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,ै ब:क अथवा *ाथिमक डीलर <ारा *ाc (cid:1)कया जाना और -रकाड (cid:30)
म/ रखा जाना होगा।
2. अपन े aाहक, स े *ाc पdे आडर(cid:30) के आधार पर *0येक ब:क अथवा *ाथिमक डीलर भारतीय -रजव(cid:30) ब:क कोर
ब:Lकग सो(cid:3)यूशन (ई-कुबेर) *णाली संबंधी इले)Nॉिनक *पG म / अपन े aाहक, क(cid:25) ओर स े एक एकल समे(cid:1)कत
अ*ित(cid:22)पधE बोली *(cid:22)तुत करेगा। असाधारण प-रि(cid:22)थितय,, जैस े भारतीय -रजव(cid:30) ब:क कोर ब:Lकग सो(cid:3)यूशन
(ई-कुबेर) *णाली म / सामा=य गड़बड़ी को छोड़कर, भौितक bप म / अ*ित(cid:22)पधE बोली (cid:22)वीकार नह‘ क(cid:25)
जाएगी।
3. ब:क अथवा *ाथिमक डीलर को अ*ित(cid:22)पधE खंड के अधीन आबंटन *ितलाभ/क(cid:25)मत क(cid:25) उस भारािं शत औसत
दर पर होगा, जो *ित(cid:22)पधE बोली दने े के आधार पर नीलामी म / सामन े आएगी। इस बात पर #यान (cid:1)दए
िबना (cid:1)क ब:क अथवा *ाथिमक डीलर ने अपन े aाहक, से भगु तान *ाc कर िलया ह ै या नह‘, िनग(cid:30)म क(cid:25)
तारीख को भुगतान *ाc करके ब:क या *ाथिमक डीलर को *ितभिू तया ंजारी क(cid:25) जाएंगी।
4. ऐस ेमामल े म,/ जहा ंबोली क(cid:25) रािश *ारि^त रािश (अिधसूिचत रािश के 5 *ितशत) स ेअिधक ह ैयथानपु ात
आबंटन (cid:1)कया जाएगा। आिं शक आबंटन, के मामल े म,/ यह ब:क अथवा *ाथिमक डीलर, का दािय0व होगा (cid:1)क
वह अपन ेaाहक, को *ितभिू तय, का उिचत आबंटन एक पारदशE तरीके से कर/।
5. ऐस ेमामल ेम /जहां बोली रािश *ारि^त रािश स ेकम हो, कमी को *ित(cid:22)पधE भाग म/ शािमल (cid:1)कया जाएगा।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
6. *ितभिू त को भारतीय -रजव(cid:30) ब:क <ारा केवल एसजीएल bप म / जारी (cid:1)कया जाएगा। भारतीय -रजव(cid:30) ब:क
इसे या तो ब:क अथवा *ाथिमक डीलर के मु?य एसजीएल खात े अथवा सीएसजीएल खात े म / जमा
करेगा,जैसा(cid:1)क उनके <ारा िनदशP (cid:1)दया गया ह।ै मु?य एसजीएल खात ेम /जमा करन ेक(cid:25) सिु वधा एकमाG उन
िनवेशक, क(cid:25) सेवा के *योजनाथ (cid:30) ह ै जो उनके घटक नह‘ ह।: अतः ब:क अथवा *ाथिमक डीलर, को
अ*ित(cid:22)पधE बोिलय, क(cid:25) िनिवदा दते े समय उनके एसजीएल खात ेऔर सीएसजीएल खात ेम /जमा होन ेवाली
रािशय, (अ(cid:9)ं कत मू(cid:14)य ) को (cid:22)प5 ट bप से दशान(cid:30) ा होगा। बाद म /िनवेशक के अनुरोध पर मु?य एसजीएल खात े
स ेवा(cid:22)तिवक bप म /क(cid:25) गई सुपदु ग(cid:30) ी (cid:22)वीकाय (cid:30)ह।ै
7. यह ब:क अथवा *ाथिमक डीलर का दािय0व ह ै (cid:1)क वह aाहक को *ितभिू तया ं ह(cid:22)तांत-रत करे। असाधारण
प-रि(cid:22)थितय, को छोड़कर, aाहक, को *ितभिू तय, का अंतरण िनग(cid:30)म क(cid:25) ितिथ से पांच काय (cid:30)(cid:1)दवस, के भीतर
पूरा (cid:1)कया जाएगा।
8. ब:क अथवा *ाथिमक डीलर अपन े aाहक, को यह सेवा दने े के िलए छह पैस े *ित सौ ’पए तक
दलाली/कमीशन/सेवा *भार के bप म / वसूल कर सकत े ह।: ऐसी क(cid:25)मत िब(cid:27)(cid:25) मू(cid:3)य म / शािमल क(cid:25) जा सकती
ह ै या aाहक, स े अलग स े वसूल क(cid:25) जा सकती ह।ै ऐस े मामले म/ जहा ं *ितभिू तय, का अंतरण *ितभिू त क(cid:25)
िनगम(cid:30) ितिथ के बाद *भावी होता हो, ब:क या *ाथिमक डीलर को aाहक <ारा दये *ितफल रािश म / िनगम(cid:30)
ितिथ स ेउपिचत Aयाज शािमल होगा।
9. *ितभिू तय, क(cid:25) लागत, उपिचत Aयाज जहा ं भी लाग ू हो, तथा दलाली/कमीशन/सेवा *भार, के िलए aाहक,
स े भुगतान *ाc करन े क(cid:25) काय-(cid:30) *णाली,ब:क या *ाथिमक डीलर <ारा aाहक 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 aाहक, स ेवसलू नह‘ (cid:1)कया जाना चािहए।
VVVV.... ब:क, और *ाथिमक डीलर, को भारतीय -रजव(cid:30) ब:क (ब:क) <ारा समय-समय पर मांगी गई योजना के तहत
संचालन, से संबंिधत सूचना िनधा-(cid:30) रत समय सीमा के अंतग(cid:30)त ब:क को *(cid:22)तुत करनी होगी।
VVVVIIII.... ऊपर उि(cid:3)लिखत (cid:1)दशािनदशP ब:क <ारा समी^ा के अधीन है और तSनुसार, जब भी आवeयकता होगी, योजना
को संशोिधत (cid:1)कया जाएगा।
MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 24th 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)
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 4,000
8.24% GS 2033 Nov.10, 2014 19-00-00 Nov. 10, 2033 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 ` 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 Reserve¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
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 28, 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 28, 2018. 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 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 28, 2018. The payment by successful bidders will be on December 31, 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 Coupon rate Date of Last Date upto which Date of Coupon payments
Security (%) Coupon payment accrued interest is due (month/date)
7.37% GS 2023 7.37 Oct. 16, 2018 Dec. 30, 2018 Apr. 16 and Oct. 16
7.17% GS 2028 7.17 Jul. 08, 2018 Dec. 30, 2018 Jan. 08 and Jul. 08
8.24% GS 2033 8.24 Nov. 10, 2018 Dec. 30, 2018 May 10 and Nov. 10
7.06% GS 2046 7.06 Oct. 10, 2018 Dec. 30, 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 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.6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
II. 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.
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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and Published by the Controller of Publications, Delhi-110054.