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 May 31, 2019. It specifies the terms and conditions for the sale, including details of the government stocks, auction specifics, and guidelines for non-competitive bidding. The payment by successful bidders is due on June 3, 2019.
Key Points / Main Content:
Government Stock Sale/Reissue:
* The Government of India is selling/reissuing multiple government stocks with varying maturity dates: 2021, 2026, 2031, 2039 and 2059.
* The total notified amount for the auction is ₹17,000 crore, with the government retaining the option to accept an additional subscription of up to ₹1,000 crore against any one or more of the above securities.
Auction Details:
* The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on May 31, 2019.
* Bids must be submitted electronically via the RBI's Core Banking Solution (EKuber) system on May 31, 2019.
* Non-competitive bids should be submitted between 11:30 a.m. and 12:00 noon and competitive bids between 11:30 a.m. and 12:30 p.m.
* The results of the auction will be displayed by the RBI on May 31, 2019, at its Mumbai office.
* Payment by successful bidders is due on June 3, 2019, and includes accrued interest.
Non-Competitive Bidding Facility:
* Up to 5% of the notified amount is reserved for non-competitive bids.
* This facility is available to investors who do not have a current account or SGL account with the RBI, with exceptions for Regional Rural Banks (RRBs) and Cooperative Banks.
* Investors can make a single bid for no more than ₹2 crore face value per auction.
* Bids must be submitted indirectly through a bank or PD offering this scheme.
Interest and Repayment:
* Interest will accrue on the nominal value of the stock from the original issue date/last coupon payment date and will be paid semi-annually.
* Stocks will be repaid at par on the maturity date.
Floating Rate Bond (FRB) 2031 Specifics:
* The interest rate is variable and paid semi-annually.
* The coupon rate is based on the weighted average yield (WAY) of the last 3 auctions of 182-day T-Bills plus a fixed spread of 100 basis points.
* The base rate for the coupon period from Dec. 7, 2018, to Jun. 6, 2019, is 7.05% per annum, making the interest rate for FRB 2031 8.05% per annum for this period.
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 and payment processes.
* Action Required: Conduct the auction on May 31, 2019, display results, and ensure payments are processed on June 3, 2019.
Banks and Primary Dealers (PDs):
* Impact: Banks and PDs facilitate the bidding process for their clients, particularly non-competitive bidders.
* Action Required: Submit consolidated non-competitive bids on behalf of their constituents, allocate securities appropriately, and transfer securities to clients within five working days of the issue date.
Investors (Competitive Bidders):
* Impact: Investors have the opportunity to purchase government stocks and earn interest.
* Action Required: Submit bids electronically via the EKuber system by the specified deadlines and make payments by June 3, 2019, if successful.
Investors (Non-Competitive Bidders):
* Impact: Broader participation in government securities.
* Action Required: Submit bids through a bank or PD, adhering to the eligibility criteria and bid limits.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction and issuing guidelines related to government stock trading.
Government of India: The issuer of the government stocks and the entity notifying the sale/reissue.
Ministry of Finance: The ministry under which the Department of Economic Affairs and Budget Division operate, related to the notification of government stock auctions.
New Delhi: Location where notification was issued.
Mumbai, Maharashtra: Location of the Reserve Bank of India office conducting the auction.
Government Stock: A type of security being auctioned/reissued by the Government of India.
EKuber System: The Reserve Bank of India Core Banking Solution system used for submitting bids in electronic format.
ARVIND SHRIVASTAVA: Jt. Secy. who signed the notification By Order of the President of India
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PART I—Section 1
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No. 149] NEW DELHI, MONDAY, MAY 27, 2019/ JYAISTHA 6, 1941
िििि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, 27 मई, 2019
((((ससससररररककककााााररररीीीी (cid:22)(cid:22)(cid:22)(cid:22)टटटटॉॉॉॉकककक ((((जजजजीीीीएएएएसससस)))) 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 एएूूएएूू डडंंडडंं एएएएमममम////2222000011119999....————भारत सरकार एतद(cid:8)ारा नीचे (cid:1)दए गए अनुसार सरकारी (cid:20)टॉक क(cid:23) िब(cid:26)(cid:23) ((((पपपपननननुुुु (cid:11)(cid:11)(cid:11)(cid:11)ननननगगगगमम(cid:14)(cid:14)मम(cid:14)(cid:14) )))) 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:14)(cid:14)(cid:14)(cid:14)ममममााााहहहह----$$$$ददददनननन)))) ततततााााररररीीीीखखखख आआआआधधधधाााारररर ििििववववििििधधधध ((((ककककररररोोोोड़ड़ड़ड़ मममम))(cid:22)(cid:22)))(cid:22)(cid:22)
7.00% सरकारी (cid:27)ितभूित 2021 21 जनवरी, 2019 02-00-00 21 जनवरी, 2021 मू(cid:3)य िविवध 3,000
7.27% सरकारी (cid:27)ितभूित 2026 08 अ(cid:27)ैल, 2019 07-00-00 08 अ(cid:27)ैल, 2026 मू(cid:3)य िविवध 3,000
भारत सरकार का अ(cid:20)थ ायी दर वाला
07 मई, 2018 13-07-00 07 (cid:1)दसंबर, 2031 मू(cid:3)य िविवध 5,000
बांड 2031
7.62% सरकारी (cid:27)ितभूित 2039 08 अ(cid:27)ैल, 2019 20-05-07 15 िसत# बर, 2039 म(cid:3)ू य िविवध 2,000
7.63% सरकारी (cid:27)ितभूित 2059 06 मई, 2019 40-01-11 17 जून, 2059 मू(cid:3)य िविवध 4,000
कुल अिधसूिचत रािश 17,000 करोड़ &पए क(cid:23) सीमा के अ(यधीन भारत सरकार, उपयु+,त एक या अिधक (cid:27)ितभिूतय- के प.रपे/ य म0 (cid:27)1य ेक म0 1,000
करोड़ &पए तक के अित.र2 अिभदान का िवक(cid:3)प बनाए रखेगी। यह िब(cid:26)(cid:23) इस अिधसूचना (िजसे 'िविश7 ट अिधसचू ना' कहा गया ह)ै म0 उि(cid:3)लिखत शत8
के अधीन होगी। इस (cid:20)टॉक क(cid:23) िब(cid:26)(cid:23) भारतीय .रजव+ ब<क, मबुं ई काया+लय, फोट+, मुंबई-400001 के मा(यम स े भारत सरकार (cid:8)ारा जारी सामा>य
अिधसूचना एफ.सं?या 4(2)-डA(cid:3)यू एBड एम/2018, तारीख 27 माच+ 2018 म 0िनCदD शत8 के अधीन क(cid:23) 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 (cid:27)ितभूितय- क(cid:23) नीलािमय- म0 अ(cid:27)ित(cid:20)पधE बोली दने े क(cid:23) सुिवधा क(cid:23) संलF (cid:20)क(cid:23)म ((((अअअअननननबबुुबबुु धधंंधधंं )))) के अनुसार, िब(cid:26)(cid:23) क(cid:23) अिधसूिचत रािश का 5
(cid:27)ितशत तक सरकारी (cid:20)टॉक पाG Hय ि2य- और सं(cid:20)थाI 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+ ब<क, मबुं ई काया+लय, फोट+, मुंबई-400001 (cid:8)ारा 33331111 ममममईईईई,,,, 2222000011119999 को संचािलत क(cid:23) जाएगी। नीलामी हते ु बोिलया ं
भारतीय .रजव+ ब<क कोर ब<Kकग सो(cid:3)यूशन (ई-कुबेर) (cid:27)णाली संबंधी इले,Mॉिनक (cid:27)पG म 0 33331111 ममममईईईई,,,, 2222000011119999 को (cid:27)(cid:20)तुत क(cid:23) जानी चािहए। अ(cid:27)ित(cid:20)पधE
2660 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
बोिलया ं पपपपववूूववूू ाााा,,(cid:14)(cid:14),,(cid:14)(cid:14) नननन 11111111....33330000 बबबबजजजजेे ेे सससस ेे ेेददददोोोोपपपपहहहहरररर 11112222....00000000 बबबबजजजज ेेेेके बीच और (cid:27)ित(cid:20)पधE बोिलया ंपपपपववूूववूू ाााा,,(cid:14)(cid:14),,(cid:14)(cid:14) नननन 11111111....33330000 बबबबजजजज ेे ेेसससस ेे ेेमममम----ययययाााा,,,,नननन 11112222....33330000 बबबबजजजज ेेेेके बीच (cid:27)(cid:20)तुत क(cid:23)
जानी चािहए।
ककककबबबब ििििननननगगगगिििि(cid:14)(cid:14)(cid:14)(cid:14)ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:20)टॉक, भारतीय .रजव+ ब<क (cid:8)ारा जारी (cid:1)दशािनदशN - के अनुसार, 'कब िनग+िमत’ कारोबार के िलए पाG होगा।
ििििननननगगगगमम(cid:14)(cid:14)मम(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 भभभभुगुगुगुगतततताााानननन
5. नीलामी का प.रणाम भारतीय .रजव+ ब<क (cid:8)ारा अपन ेफोट+ ि(cid:20)थत मुंबई काया+लय म 0 33331111 ममममईईईई,,,, 2222000011119999 को (cid:27)दPशत (cid:1)कया जाएगा। सफल बोलीदाताI
(cid:8)ारा भुगतान 3333 जजजजननूूननूू ,,,, 2222000011119999 अथा+त् पपपपननुुननुु (cid:11)(cid:11)(cid:11)(cid:11)ननननगगगगमममम(cid:14)(cid:14)(cid:14)(cid:14) क(cid:23) तारीख को (cid:1)कया जाएगा। (cid:20)टॉक के िलए भगु तान म 0नीलामी म0 आबं.टत (cid:20)टॉक के अं(cid:1)कत मू(cid:3)य पर,
मूलिनगम+ /अंितम कूपन भगु तान क(cid:23) तारीख स े (cid:27)ोRभूत Aयाज दये होने क(cid:23) तारीख तक, (cid:27)ोRभूत Aयाज शािमल होगा। जैसा (cid:1)क पैरा 6 म 0 तािलका म0
उि(cid:3)लिखत ह।ै माच +िसत#ब र
ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:22)(cid:22)(cid:22)(cid:22)टटटटॉॉॉॉकककक ककककाााा पपपपननुुननुु भभभभगगगगु(cid:14)ु(cid:14)ु(cid:14)ु(cid:14) तततताााानननन
6. ममममललूूललूू (cid:11)(cid:11)(cid:11)(cid:11)ननननगगगगमम(cid:14)(cid:14)मम(cid:14)(cid:14) ////अअअअििंंििंंततततमममम ककककूूूूपपपपनननन भभभभगगगगुुुु तततताााानननन कककक(cid:25)(cid:25)(cid:25)(cid:25) ततततााााररररीीीीखखखख से (cid:20)टॉक के अं(cid:1)कत मू(cid:3)य पर Aयाज (cid:27)ोRभूत होगा तथा इसका भुगतान अधव+ ाPषक आधार पर (cid:1)कया
जाएगा। (cid:20)टॉक का पुनभु+गतान प.रपUता क(cid:23) तारीख पर ससससमममममममम!!ूू!!ूू यययय पर (cid:1)कया जाएगा।
(cid:15)(cid:15)(cid:15)(cid:15)ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअअअ ििंंििंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन $$$$ककककसससस ततततााााररररीीीीखखखख ततततकककक (cid:15)(cid:15)(cid:15)(cid:15)ोोोो1111भभभभूतूतूतूत ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:25)(cid:25)(cid:25)(cid:25) ततततााााररररीीीीखखखख
((((%%%%)))) कककक(cid:25)(cid:25)(cid:25)(cid:25) ततततााााररररीीीीखखखख ययययााााजजजज ददददययेेययेे हहहह ैैैै ((((ररररीीीीखखखखतततताााा////ममममााााहहहह))))
7.00% सरकारी (cid:27)ितभूित 2021 7.00 नया (cid:20)टॉक 02 जून, 2019 21 जुलाई और 21 जनवरी
7.27% सरकारी (cid:27)ितभूित 2026 7.27 नया (cid:20) टॉक 02 जून, 2019 08 अ, तूबर और 08 अ(cid:27)ैल
भाoसo का अ(cid:20) थायी दर वाला बांड 2031 प.रवत+नीय* 07 (cid:1)दसंबर, 2018 02 जून, 2019 07 जून और 07 (cid:1)दसबं र
7.62% सरकारी (cid:27)ितभूित 2039 7.62 नया (cid:20) टॉक 02 जून, 2019 15 िसत# बर और 15 माच+
7.63% सरकारी (cid:27)ितभूित 2059 7.63 नया (cid:20) टॉक 02 जून, 2019 17 जून और 17 (cid:1)दसबं र
* भारत सरकार का अ(cid:7) थायी दर वाला बांड 2031:
(i) प.रवत+नीय दर पर Aय ाज का भुगतान अध+वाPषक आधार पर (cid:1)कया जाएगा।
(ii) अ(cid:20)थायी दर वाल ेबाडं क(cid:23) कूपन दर होगी जो मूल दर होगी तथा यह 182 (cid:1)दवसीय राजकोषीय Yिंडय- क(cid:23) िपछली 3 नीलािमय- (दर िनधा+.रत
करने के (cid:1)दन से) क(cid:23) भा.रत औसत आय (डA(cid:3)यूएवाई) तथा नीलामी तंG (cid:8)ारा 100 आधार िब>द ुके िनयत (cid:20)(cid:27)ेड के समतु(cid:3)य होगी। यह (cid:20)(cid:27)ेड बांड क(cid:23)
अविध म 0िनयत रहगे ा। अंतPनिहत आय क(cid:23) गणना वष+ म 0 365 (cid:1)दन को ( यान म0 रखकर क(cid:23) जाएगी।
(iii) बांड- क(cid:23) समयाविध के दौरान भारत सरकार क(cid:23) 182 (cid:1)दवसीय राजकोषीय Yिंडय- क(cid:23) नीलािमय- को बंद कर (cid:1)दए जाने क(cid:23) ि(cid:20)थित म,0 कूपन क(cid:23)
मूल दर, अध+वाPषक कूपन अविध क(cid:23) शु&आत से पहले के तीन नॉन-.रपोaटग शु(cid:26)वार- को, छह माह तक भारत सरकार (cid:27)ितभूित(य-) के िलए (cid:27)चिलत
प.रपUता दर आय (वाईटीएम) क(cid:23) औसत होगी। य(cid:1)द (cid:1)कसी शु(cid:26)वार को कोई िवशेष छुbी/छु.bयां ह,< तो प.रपUता पर आय क(cid:23) दर0 वही ह-गी जो िपछले
काय+ (cid:1)दवस को थी।
(iv) कूपन अविध 7 (cid:1)दसबं र, 2018 से 6 जून, 2019 के िलए आधार दर 7.05 (cid:27)ितशत (cid:27)ित वष+ ह।ै तदनुसार, इस अविध के िलए एफआरबी 2031 पर
Aयाज दर 8.05 (cid:27)ितशत (cid:27)ित वष+ होगी। अनुवतE वष8 के दौरान बांड- पर अध+वाPषक eप से दये A याज दर, संबंिधत अध+वाPषक कूपन अविध क(cid:23)
शु&आत से पूव+ भारतीय .रजव+ ब<क (cid:8)ारा घोिषत क(cid:23) जाएगी।
भारत के राgपित के आदशे स े
अरhवद iीवा(cid:20)तव, संयु2 सिचव
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी (cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििूूििूूततततयययय(cid:7)(cid:7)(cid:7)(cid:7) कककक(cid:9)(cid:9)(cid:9)(cid:9) ननननीीीीललललााााममममीीीी मममम (cid:11)(cid:11) (cid:11)(cid:11)अअअअ(cid:1)(cid:1)(cid:1)(cid:1)िििितततत(cid:13)(cid:13)(cid:13)(cid:13)पपपपधधधध(cid:16)(cid:16)(cid:16)(cid:16) बबबबोोोोललललीीीी ससससुिुिुिुिववववधधधधाााा (cid:13)(cid:13)(cid:13)(cid:13)कककक(cid:9)(cid:9)(cid:9)(cid:9)मममम
IIII.... ककककाााायययय(cid:19)(cid:19)(cid:18)(cid:18)(cid:19)(cid:19)(cid:18)(cid:18) े(cid:21)े(cid:21)े(cid:21)े(cid:21):::: सरकारी (cid:1)ितभूितय(cid:7) क(cid:9) (cid:10)ापक भागीदारी और खुदरा धा(cid:14)रता को (cid:1)ो(cid:17)साहन दने े क(cid:9) दिृ(cid:23) से भारत सरकार क(cid:9) (cid:24)दना(cid:24)ंकत
(cid:1)ितभूितय(cid:7) क(cid:9) चयिनत नीलािमय(cid:7) म(cid:29) "अ(cid:1)ित(cid:31)पध " आधार पर भागीदारी क(cid:9) अनुमित दने ेका (cid:1)(cid:31)ताव (cid:24)कया गया ह।ै त"नुसार, (cid:24)दना(cid:24)ंकत
(cid:1)ितभूितय(cid:7) क(cid:9) नीलािमय(cid:7) म(cid:29) अिधसूिचत रािश के 5 (cid:1)ितशत तक क(cid:9) अ(cid:1)ित(cid:31)पध बोिलयां (cid:31)वीकार क(cid:9) जाएंगी। (cid:1)ारि%त रािश
अिधसूिचत रािश के अअअअ(cid:22)(cid:22)(cid:22)(cid:22)ततततगगगग(cid:18)त(cid:18)त(cid:18)त(cid:18)त होगी।
IIIIIIII.... पपपपाााा(cid:21)(cid:21)(cid:21)(cid:21)तततताााा :::: भारत सरकार क(cid:9) (cid:24)दना(cid:24)ं कत (cid:1)ितभूितय(cid:7) क(cid:9) नीलािमय(cid:7) म(cid:29) अ(cid:1)ित(cid:31)पध आधार पर ऐसे िनवेशक(cid:7) के िलए भागीदारी खुली
होगी जो िन’िलिखत शत) को पूरा करते ह:*
1. जो भारतीय (cid:14)रजव, ब*क के पास चालू खाता (सीए) अथवा सहायक सामा.य बही (एसजीएल) खाता नह/ रखते ह;*
अअअअपपपपववववाााादददद:::: %े0ीय 1ामीण ब*क(cid:7) (आरआरबी) और सहकारी ब*क(cid:7) को उनके सांिविधक दािय(cid:17)व(cid:7) के दिृ(cid:23)गत इस (cid:31)क(cid:9)म के अधीन
शािमल (cid:24)कया जाएगा।
2. जो (cid:1)ित नीलामी दो करोड़ 4पए (अं(cid:24)कत मू6य) से अनिधक रािश के िलए एक ही बोली लगाते ह;*
3. जो यह (cid:31)क(cid:9)म (cid:1)दान करने वाले (cid:24)कसी एक ब*क अथवा (cid:1)ाथिमक डीलर के मा8यम से अपनी बोली अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े(cid:1)(cid:31)तुत करते
ह।*¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअपपपपववववाााादददद:::: ऐसे %े0ीय 1ामीण ब*क (आरआरबी) तथा सहकारी ब*क जो भारतीय (cid:14)रजव, ब*क म(cid:29) एस.जी.एल.खाता और चालू खाता
रखते ह,* अपनी अ(cid:1)ित(cid:31)पध बोिलय(cid:7) को (cid:1)(cid:17)य% :प से (cid:1)(cid:31)तुत करने के िलए पा0 ह(cid:7)गे।
IIIIIIIIIIII.... (cid:24)(cid:24)(cid:24)(cid:24)ाााापपपपककककतततताााा:::: उपयु,< शत) के अधीन "अ(cid:1)ित(cid:31)पध " आधार पर फम), कंपिनय(cid:7), िनगिमत िनकाय(cid:7), सं(cid:31)था>, भिव? य िनिधय(cid:7), .यास(cid:7)
और भारतीय (cid:14)रजव, ब*क Aारा यथा-िनधा,(cid:14)रत (cid:24)कसी अ.य कंपनी सिहत (cid:24)कसी भी (cid:10)ि< के िलए भागीदारी खुली ह।ै बोली दने ेक(cid:9) .यूनतम
रािश 10,000 4पए (अं(cid:24)कत मू6य) और उसके बाद 10,000 4पए के गुणज(cid:7) म(cid:29) होगी जैसा अब तक (cid:24)दनां(cid:24)कत (cid:31)टॉक के िलए ह।ै
IIIIVVVV.... अअअअ(cid:22)(cid:22)(cid:22)(cid:22)यययय (cid:1)(cid:1)(cid:1)(cid:1)चचचचााााललललननननाााा(cid:28)(cid:28)(cid:28)(cid:28)ममममकककक (cid:29)(cid:29)(cid:29)(cid:29)ददददशशशशााााििििननननददददशश शश ::::
1111.... खुदरा िनवेशक के िलए उस ब*क अथवा (cid:1)ाथिमक डीलर, िजनके मा8यम से वे भाग लेना चाहत े ह,* के पास एक संघटक
सहायक सामा.य बही (सीएसजीएल) खाता रखना अिनवाय ,होगा। कोई भी िनवेशक इस (cid:31)क(cid:9)म के अधीन (cid:24)दना(cid:24)ंकत (cid:1)ितभूित क(cid:9)
(cid:24)कसी नीलामी म(cid:29) केवल एक बोली म(cid:29) भाग ले सकता ह।ै इस आशय का वचन (cid:24)क िनवेशक केवल एक बोली द ेरहा ह,ै ब*क अथवा
(cid:1)ाथिमक डीलर Aारा (cid:1)ाD (cid:24)कया जाना और (cid:14)रकाड ,म(cid:29) रखा जाना होगा।
2. अपने 1ाहक(cid:7) से (cid:1)ाD पFे आड,र के आधार पर (cid:1)(cid:17)येक ब*क अथवा (cid:1)ाथिमक डीलर भारतीय (cid:14)रजव ,ब*क कोर ब*Hकग सो6यूशन
(ई-कुबेर) (cid:1)णाली संबंधी इलेJKॉिनक (cid:1)प0 म(cid:29) अपने 1ाहक(cid:7) क(cid:9) ओर से एक एकल समे(cid:24)कत अ(cid:1)ित(cid:31)पध बोली (cid:1)(cid:31)तुत करेगा।
असाधारण प(cid:14)रि(cid:31)थितय(cid:7), जैसे भारतीय (cid:14)रजव, ब*क कोर ब*Hकग सो6यूशन (ई-कुबेर) (cid:1)णाली म(cid:29) सामा.य गड़बड़ी को छोड़कर,
भौितक :प म(cid:29) अ(cid:1)ित(cid:31)पध बोली (cid:31)वीकार नह/ क(cid:9) जाएगी।
3. ब*क अथवा (cid:1)ाथिमक डीलर को अ(cid:1)ित(cid:31)पध खंड के अधीन आबंटन (cid:1)ितलाभ/क(cid:9)मत क(cid:9) उस भारांिशत औसत दर पर होगा,
जो (cid:1)ित(cid:31)पध बोली देन ेके आधार पर नीलामी म(cid:29) सामने आएगी। इस बात पर 8यान (cid:24)दए िबना (cid:24)क ब*क अथवा (cid:1)ाथिमक डीलर न े
अपने 1ाहक(cid:7) से भुगतान (cid:1)ाD कर िलया ह ै या नह/, िनग,म क(cid:9) तारीख को भुगतान (cid:1)ाD करके ब*क या (cid:1)ाथिमक डीलर को
(cid:1)ितभूितया ंजारी क(cid:9) जाएंगी।
4. ऐसे मामले म(cid:29), जहा ंबोली क(cid:9) रािश (cid:1)ारि%त रािश (अिधसूिचत रािश के 5 (cid:1)ितशत) से अिधक ह ैयथानुपात आबंटन (cid:24)कया
जाएगा। आंिशक आबंटन(cid:7) के मामले म(cid:29), यह ब*क अथवा (cid:1)ाथिमक डीलर(cid:7) का दािय(cid:17)व होगा (cid:24)क वह अपने 1ाहक(cid:7) को (cid:1)ितभूितय(cid:7)
का उिचत आबंटन एक पारदश तरीके से कर(cid:29)।
5. ऐसे मामले म(cid:29) जहां बोली रािश (cid:1)ारि%त रािश से कम हो, कमी को (cid:1)ित(cid:31)पध भाग म(cid:29) शािमल (cid:24)कया जाएगा।
6. (cid:1)ितभूित को भारतीय (cid:14)रजव, ब*क Aारा केवल एसजीएल :प म(cid:29) जारी (cid:24)कया जाएगा। भारतीय (cid:14)रजव, ब*क इसे या तो ब*क
अथवा (cid:1)ाथिमक डीलर के मुLय एसजीएल खाते अथवा सीएसजीएल खात ेम(cid:29) जमा करेगा,जैसा(cid:24)क उनके Aारा िनदNश (cid:24)दया गया है।
मुLय एसजीएल खाते म(cid:29) जमा करने क(cid:9) सुिवधा एकमा0 उन िनवेशक(cid:7) क(cid:9) सेवा के (cid:1)योजनाथ, ह ैजो उनके घटक नह/ ह।* अतः ब*क
अथवा (cid:1)ाथिमक डीलर(cid:7) को अ(cid:1)ित(cid:31)पध बोिलय(cid:7) क(cid:9) िनिवदा दते ेसमय उनके एसजीएल खात ेऔर सीएसजीएल खात ेम(cid:29) जमा होन े
वाली रािशय(cid:7) (अं(cid:9)कत मू(cid:14)य) को (cid:31)प? ट :प से दशा,ना होगा। बाद म(cid:29) िनवेशक के अनुरोध पर मुLय एसजीएल खात े से वा(cid:31)तिवक
:प म(cid:29) क(cid:9) गई सुपुदग, ी (cid:31)वीकाय, ह।ै
7. यह ब*क अथवा (cid:1)ाथिमक डीलर का दािय(cid:17)व ह ै(cid:24)क वह 1ाहक को (cid:1)ितभूितयां ह(cid:31)तांत(cid:14)रत करे। असाधारण प(cid:14)रि(cid:31)थितय(cid:7) को
छोड़कर, 1ाहक(cid:7) को (cid:1)ितभूितय(cid:7) का अंतरण िनग,म क(cid:9) ितिथ से पांच काय ,(cid:24)दवस(cid:7) के भीतर पूरा (cid:24)कया जाएगा।
8. ब*क अथवा (cid:1)ाथिमक डीलर अपने 1ाहक(cid:7) को यह सेवा दने े के िलए छह पैसे (cid:1)ित सौ 4पए तक दलाली/कमीशन/सेवा (cid:1)भार के
:प म(cid:29) वसूल कर सकते ह।* ऐसी क(cid:9)मत िबO(cid:9) मू6य म(cid:29) शािमल क(cid:9) जा सकती ह ैया 1ाहक(cid:7) से अलग से वसूल क(cid:9) जा सकती ह।ै ऐसे
मामले म(cid:29) जहा ं(cid:1)ितभूितय(cid:7) का अंतरण (cid:1)ितभूित क(cid:9) िनग,म ितिथ के बाद (cid:1)भावी होता हो, ब*क या (cid:1)ाथिमक डीलर को 1ाहक Aारा
दये (cid:1)ितफल रािश म(cid:29) िनग,म ितिथ से उपिचत Pयाज शािमल होगा।
9. (cid:1)ितभूितय(cid:7) क(cid:9) लागत, उपिचत Pयाज जहा ं भी लागू हो, तथा दलाली/कमीशन/सेवा (cid:1)भार(cid:7) के िलए 1ाहक(cid:7) से भुगतान
(cid:1)ाD करने क(cid:9) काय,-(cid:1)णाली,ब*क या (cid:1)ाथिमक डीलर Aारा 1ाहक के साथ क(cid:9) गई सहमित के अनुसार तैयार क(cid:9) जाएगी। यह
उ6लेखनीय ह ै(cid:24)क (cid:24)कसी अ.य लागत, जैसे िनिधकरण लागत को मू6य म(cid:29) शािमल नह/ (cid:24)कया जाना चािहए या 1ाहक(cid:7) से वसूल नह/
(cid:24)कया जाना चािहए।4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
VVVV.... ब*क(cid:7) और (cid:1)ाथिमक डीलर(cid:7) को भारतीय (cid:14)रजव, ब*क (ब*क) Aारा समय-समय पर मांगी गई योजना के तहत संचालन(cid:7) से संबंिधत सूचना
िनधा,(cid:14)रत समय सीमा के अंतग,त ब*क को (cid:1)(cid:31)तुत करनी होगी।
VVVVIIII.... ऊपर उि6लिखत (cid:24)दशािनदशN ब*क Aारा समी%ा के अधीन ह ै और त"नुसार, जब भी आवRयकता होगी, योजना को संशोिधत (cid:24)कया
जाएगा।
MINISTRY OF FINANCE
(Department of Economic Affairs)
(Budget Division)
NOTIFICATION
New Delhi, the 27th, May, 2019
Auction for Sale (Re-issue) of Government Stock (GS)
F.No.4(6)W&M/2019.—Government of India hereby notifies sale (Re-issue) of the following Government Stocks:
Name of the Date of Original Tenure Date of Auction Auction Notified
Security Original Issue (yy-mm-dd) Maturity Basis Method Amount
(in ` Crore)
7.00% GS 2021 Jan.21, 2019 02-00-00 Jan.21, 2021 Price Multiple 3,000
7.27% GS 2026 Apr. 08, 2019 07-00-00 Apr. 08, 2026 Price Multiple 3,000
GoI FRB 2031 May 07, 2018 13-07-00 Dec. 07, 2031 Price Multiple 5,000
7.62% GS 2039 Apr. 08, 2019 20-05-07 Sep. 15, 2039 Price Multiple 2,000
7.63% GS 2059 May 06, 2019 40-01-11 Jun. 17, 2059 Price Multiple 4,000
Subject to the limit of ` 17,000 crore, being total notified amount, Government of India 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 May 31, 2019.
Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution
(E-Kuber) system on May 31, 2019. The non-competitive bids should be submitted between 11.30 a.m. and
12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 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 May 31,
2019. The payment by successful bidders will be on June 3, 2019 i.e. the date of re-issue. The payment for the
Stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original
issue/last coupon payment date to the date up to 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 Date of Last Coupon Date up to which Date of Coupon
rate (%) payment accrued interest is due payments (month/date)
7.00% GS 2021 7.00 New Stock June 02, 2019 Jul. 21 and Jan. 21
7.27% GS 2026 7.27 New Stock June 02, 2019 Oct. 08 and Apr. 08
GoI FRB 2031 Variable* Dec. 07, 2018 June 02, 2019 Jun. 07 and Dec. 07
7.62% GS 2039 7.62 New Stock June 02, 2019 Sep. 15 and Mar. 15
7.63% GS 2059 7.63 New Stock June 02, 2019 Jun. 17 and Dec. 17
* GoI FRB 2031:¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
(i) The interest at a variable rate will be paid half-yearly.
(ii) The Floating Rate Bond will carry the coupon, which will have a base rate, equivalent to Weighted Average Yield
(WAY) of last 3 auctions (from the rate fixing day) of 182 Day T-Bills plus a fixed spread, of 100 basis points as
decided by way of auction mechanism. The spread will be fixed throughout the tenure of the bond. The implicit
yields will be computed by reckoning 365 days in a year.
(iii) In the event of Government of India 182-day Treasury Bill auctions being discontinued during the currency of
the Bonds, the base rate of the coupon will be the average of Yield to Maturity (YTM) rates prevailing for six month
Government of India Security/ies as on the last three non-reporting Fridays prior to the commencement of the semi-
annual coupon period. In case particular Friday/s is/are holiday/s, the yield to maturity rates as on the previous
working day shall be taken.
(iv) The base rate for the coupon period Dec. 7, 2018 to Jun. 6, 2019 is 7.05 per cent per annum. Accordingly, the
rate of interest on FRB 2031 for this period shall be 8.05 per cent per annum. The rate of interest payable half
yearly on the Bonds during the subsequent years shall be announced by the Reserve Bank of India before the
commencement of the relative semi-annual coupon period.
By Order of the President of India
ARVIND SHRIVASTAVA, Jt. Secy.
Annex
Scheme for Non-competitive Bidding Facility in
the Auctions of Government Securities
I. Scope : With a view to encouraging wider participation and retail holding of Government
securities, it is proposed to allow participation on “non-competitive” basis in select auctions of dated
Government of India (GoI)securities. Accordingly, non-competitive bids up to 5 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 Bank6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
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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