Executive Summary:
This document, issued by the Government of India, notifies the sale/reissue of government stocks through an auction conducted by the Reserve Bank of India (RBI) on February 01, 2019. It details the terms and conditions for the auction, including specific information about the government stocks being offered, eligibility for non-competitive bidding, and payment procedures. The payment by successful bidders will be on February 04, 2019.
Key Points / Main Content:
Government Stock Auction Details:
* Auction Date: February 01, 2019, conducted by RBI, Mumbai.
* Bids: Electronic submission via RBI’s EKuber system.
* Non-competitive bids: 11:30 a.m. - 12:00 noon.
* Competitive bids: 11:30 a.m. - 12:30 p.m.
* Payment Date: February 04, 2019.
Government Stocks for Sale/Reissue:
* 7.00 GS 2021: Maturity January 21, 2021; Amount: 2,000 crore
* 8.24 GS 2027: Maturity February 15, 2027; Amount: 2,000 crore
* GoI FRB 2031: Maturity December 07, 2031; Amount: 3,000 crore
* 7.40 GS 2035: Maturity September 09, 2035; Amount: 2,000 crore
* 8.17 GS 2044: Maturity December 01, 2044; Amount: 3,000 crore
* Total notified amount: 12,000 crore.
* Accrued interest is included in the payment for the stocks.
Non-Competitive Bidding Facility:
* Up to 5% of the notified amount is reserved for non-competitive bids.
* Eligibility: Investors without CA or SGL accounts with RBI (exceptions for RRBs and Cooperative Banks).
* Bid Limit: Single bid, not exceeding two crore face value.
* Minimum bid amount: 10,000 face value, in multiples of 10,000.
* Bids are submitted through a bank or PD (Primary Dealer).
* Allotment is at the weighted average rate of yield/price from the competitive bidding.
General Conditions:
* Stocks are eligible for When Issued trading.
* Interest is paid semi-annually.
* Stocks will be repaid at par on the maturity date.
Impact Analysis:
Eligible Individuals and Institutions (Non-Competitive Bidders):
* Impact: Opportunity to participate in government security auctions without competitive bidding, up to 5% of the notified amount.
* Action Required: Submit bids through a bank or PD, adhere to the eligibility criteria and bidding limits, and maintain a CSGL account.
Banks and Primary Dealers (PDs):
* Impact: Act as intermediaries for non-competitive bidders, consolidate bids, and manage allotments.
* Action Required: Offer the non-competitive bidding scheme to clients, submit consolidated bids electronically, allocate securities transparently, and provide SGL accounts for security issuance.
Reserve Bank of India (RBI):
* Impact: Responsible for conducting the auction, displaying results, and issuing securities.
* Action Required: Conduct the auction on February 01, 2019, display results at the Mumbai office, and credit securities to SGL/CSGL accounts.
Government of India:
* Impact: Achieve funding objectives through the sale/reissue of government stocks.
* Action Required: Monitor the auction process and retain the option to accept additional subscriptions up to 1,000 crore against any one or more of the above securities.
Successful Bidders:
* Impact: Obligation to make payments.
* Action Required: Payment by February 04, 2019 for nominal value of stock allotted plus accrued interest.
Key Entities Referenced
Government of India: The issuer of the government stocks and the entity responsible for the notification.
Reserve Bank of India: The central bank of India, responsible for conducting the auction and managing the government securities.
Mumbai, Maharashtra: The city where the Reserve Bank of India office is located, which conducts the auction.
Government Stock: A type of security issued by the Government of India.
7.00 GS 2021: A specific Government Stock with a coupon rate of 7.00% and maturing in 2021.
8.24 GS 2027: A specific Government Stock with a coupon rate of 8.24% and maturing in 2027.
GoI FRB 2031: A floating rate bond issued by the Government of India maturing in 2031.
Scheme for Noncompetitive Bidding Facility in the Auctions of Government Securities: A scheme that allows certain individuals and institutions to participate in government security auctions on a noncompetitive basis.
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PART I—Section 1
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No. 37] NEW DELHI, MONDAY, JANUARY 28, 2019/MAGHA 8, 1940
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)ंं(cid:8)(cid:8)ंं ााााललललयययय
((((आआआआ(cid:3)(cid:3)(cid:3)(cid:3)थथथथकककक ककककाााायययय(cid:9) (cid:9) (cid:9) (cid:9) ििििववववभभभभाााागगगग))))
((((बबबबजजजजटटटट (cid:18)(cid:18)(cid:18)(cid:18)भभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 28 जनवरी, 2019
ससससररररककककााााररररीीीी (cid:16)(cid:16)(cid:16)(cid:16)टटटटॉॉॉॉकककक ((((जजजजीीीीएएएएसससस)))) कककक(cid:19)(cid:19)(cid:19)(cid:19) ििििबबबब(cid:21)(cid:21)(cid:21)(cid:21)(cid:19)(cid:19)(cid:19)(cid:19) ((((पपपपननननुुुु (cid:25)(cid:25)(cid:25)(cid:25)ननननगगगगमम(cid:27)(cid:27)मम(cid:27)(cid:27) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
एएएएफफफफ.... सससस..ंं..ंं 4444((((6666))))----डडडड(cid:29)(cid:29)(cid:29)(cid:29)(cid:30)(cid:30) (cid:30)(cid:30) यय यय एएूूएएूू ंडंडंडंडएएएएमममम////2222000011118888....————भारत सरकार एतद(cid:4)ारा नीचे (cid:12)दए गए अनुसार सरकारी (cid:18)टॉक क(cid:21) िब(cid:24)(cid:21)
((((पपपपननननुुुु (cid:25)(cid:25)(cid:25)(cid:25)ननननगगगगमम(cid:27)(cid:27)मम(cid:27)(cid:27) )))) अिधसूिचत करती ह:ै
(cid:18)(cid:18)(cid:18)(cid:18)ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ममममललूूललूू ििििननननगगगगमममम(cid:9)(cid:9)(cid:9)(cid:9) कककक(cid:24)(cid:24)(cid:24)(cid:24) ममममललूूललूू अअअअववववििििधधधध पपपप(cid:29)(cid:29)(cid:29)(cid:29)ररररपपपप(cid:31)(cid:31)(cid:31)(cid:31)तततताााा कककक(cid:24)(cid:24)(cid:24)(cid:24) ननननीीीीललललााााममममीीीी ननननीीीीललललााााममममीीीी अअअअििििधधधधससससििििूूूूचचचचतततत
ततततााााररररीीीीखखखख ((((ववववषषषष----(cid:9)(cid:9)(cid:9)(cid:9)ममममााााहहहह----(cid:26)(cid:26)(cid:26)(cid:26)ददददनननन)))) ततततााााररररीीीीखखखख ककककाााा कककक(cid:24)(cid:24)(cid:24)(cid:24) ररररााााििििशशशश ((((ककककररररोोोोड़ड़ड़ड़
आआआआधधधधाााारररर ििििववववििििधधधध मममम)) ))
7.00% सरकारी (cid:1)ितभूित 2021 21 जनवरी, 2019 02-00-00 21 जनवरी, 2021 मू(cid:7)य िविवध 2,000
8.24% सरकारी (cid:1)ितभूित 2027 15 फरवरी, 2007 20-00-00 15 फरवरी, 2027 मू(cid:7)य िविवध 2,000
भारत सरकार के अ(cid:16)थ ायी दर वाले
07 मई, 2018 13-07-00 07 (cid:18)दसंबर, 2031 मू(cid:7)य िविवध 3,000
बांड 2031
7.40% सरकारी (cid:1)ितभूित 2035 09 िसत(cid:22)ब र, 2005 30-00-00 09 िसत(cid:22) बर, 2035 मू(cid:7)य िविवध 2,000
8.17% सरकारी (cid:1)ितभूित 2044 01 (cid:18)दस(cid:22)बर, 2014 30-00-00 01 (cid:18)दस(cid:22)बर, 2044 मू(cid:7)य िविवध 3,000
कुल अिधसिू चत रािश 12,000 करोड़ (cid:27)पए क(cid:21) सीमा के अ(cid:30)यधीन भारत सरकार, उपयु"# त एक या अिधक $ितभिू तय’ के
प(रपे)य म* $+य ेक म *1,000 ड़ (cid:27)पए तककरो के अित(र, अिभदान का िवक.प बनाए रखगे ी। यह िब(cid:24)(cid:21) इस अिधसूचना (िजस े
'िविश2ट अिधसूचना' कहा गया ह)ै म * उि.लिखत शत4 के अधीन होगी। इस (cid:18)टॉक क(cid:21) िब(cid:24)(cid:21) भारतीय (रजव" ब8क, मबुं ई
547 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
कायाल" य, फोट", मुंबई-400001 के मा(cid:30)यम स े भारत सरकार (cid:4)ारा जारी सामा:य अिधसूचना एफ. सं. 4(2)-ड<.यू ए=ड
एम/2018, तारीख 27 माच "2018 म *िन>द? शत4 के अधीन क(cid:21) जाएगी।
अअअअ!!!!िििितततत(cid:16)(cid:16)(cid:16)(cid:16)पपपपधधधध#### बबबबोोोोललललीीीीददददाााातततताााा&&&& ककककोोोो आआआआबबबबंटंटंटंटनननन
2. सरकारी $ितभूितय’ क(cid:21) नीलािमय’ म * अ$ित(cid:18)पध@ बोली दने े क(cid:21) सुिवधा क(cid:21) सलं B (cid:18)क(cid:21)म ((((अअअअननननबबुुबबुु धधंंधधंं )))) के अनसु ार, िब(cid:24)(cid:21) क(cid:21)
अिधसिू चत रािश का 5 $ितशत तक सरकारी (cid:18)टॉक पाC D यि,य’ और सं(cid:18)थाF को आबं(टत (cid:12)कया जाएगा ।
ननननीीीीललललााााममममीीीी ककककाााा (cid:16)(cid:16)(cid:16)(cid:16)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय (रजव" ब8क, मुंबई काया"लय, फोट", मुंबई-400001 (cid:4)ारा 1111 फफफफररररववववररररीीीी,,,, 2222000011119999 को संचािलत क(cid:21) जाएगी।
नीलामी हते ु बोिलया ं भारतीय (रजव" ब8क कोर ब8Hकग सो.यशू न (ई-कुबेर) $णाली संबंधी इले#Jॉिनक $पC म * 1111 फफफफररररववववररररीीीी,,,,
2222000011119999 को $(cid:18)तुत क(cid:21) जानी चािहए। अ$ित(cid:18)पध@ बोिलया ं पपपपववूूववूू ाााा(cid:27)((cid:27)((cid:27)((cid:27)(नननन 11111111....33330000 बबबबजजजज ेे ेे सससस ेे ेे ददददोोोोपपपपहहहहरररर 11112222....00000000 बबबबजजजज ेेेे के बीच और $ित(cid:18)पध@
बोिलया ंपपपपववूूववूू ाााा(((cid:27)(cid:27)(((cid:27)(cid:27) नननन 11111111....33330000 बबबबजजजज ेे ेेसससस ेे ेेमममम))))ययययाााा((((नननन 11112222....33330000 बबबबजजजज ेेेेके बीच $(cid:18)तुत क(cid:21) जानी चािहए।
ककककबबबब ििििननननगगगगिि(cid:27)(cid:27)िि(cid:27)(cid:27)ममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:18)टॉक, भारतीय (रजव" ब8क (cid:4)ारा जारी (cid:12)दशािनदशK ’ के अनसु ार, 'कब िनगि" मत’ कारोबार के िलए पाC होगा।
ििििननननगगगगमममम(cid:27)(cid:27)(cid:27)(cid:27) कककक(cid:19)(cid:19)(cid:19)(cid:19) ततततााााररररीीीीखखखख औऔऔऔरररर (cid:16)(cid:16)(cid:16)(cid:16)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प(रणाम भारतीय (रजव" ब8क (cid:4)ारा अपन े फोट" ि(cid:18)थत मुंबई कायाल" य म * 1111 फफफफररररववववररररीीीी,,,, 2222000011119999 को $दMशत (cid:12)कया
जाएगा। सफल बोलीदाताF (cid:4)ारा भुगतान 00004444 फफफफररररववववररररीीीी,,,, 2222000011119999 अथात" ् पपपपननननुुुु (cid:25)(cid:25)(cid:25)(cid:25)ननननगगगगमम(cid:27)(cid:27)मम(cid:27)(cid:27) क(cid:21) तारीख को (cid:12)कया जाएगा। (cid:18)टॉक के िलए
भुगतान म *नीलामी म* आबं(टत (cid:18)टॉक के अ(cid:12)ं कत मू.य पर, मूलिनगम" /अंितम कूपन भुगतान क(cid:21) तारीख स े $ोOभतू <याज दये होन े
क(cid:21) तारीख तक, $ोOभूत <याज शािमल होगा। जैसा (cid:12)क परै ा 6 म *तािलका म* उि.लिखत ह।ै
(cid:29)(cid:29)(cid:29)(cid:29)ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:16)(cid:16)(cid:16)(cid:16)टटटटॉॉॉॉकककक ककककाााा पपपपननननुुुु भभभभगगु(cid:27)ु(cid:27)गगु(cid:27)ु(cid:27) तततताााानननन
6. ममममललूूललूू (cid:25)(cid:25)(cid:25)(cid:25)ननननगगगगमममम(cid:27)(cid:27)(cid:27)(cid:27) ////अअअअििंंििंंततततमममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:19)(cid:19)(cid:19)(cid:19) ततततााााररररीीीीखखखख से (cid:18)टॉक के अ(cid:12)ं कत मू.य पर <याज $ोOभूत होगा तथा इसका भुगतान
अध"वाMषक आधार पर (cid:12)कया जाएगा। (cid:18)टॉक का पुनभु"गतान प(रपSता क(cid:21) तारीख पर ससससमममममममम(cid:30)(cid:30)ूू(cid:30)(cid:30)ूू यययय पर (cid:12)कया जाएगा।
(cid:18)(cid:18)(cid:18)(cid:18)ििििततततभभभभििििूूूूतततत ककककाााा ननननाााामममम ककककूूूूपपपपनननन ददददरररर अअअअ ििंंििंं तततत मममम ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन (cid:26)(cid:26)(cid:26)(cid:26)ककककसससस ततततााााररररीीीीखखखख ततततकककक (cid:18)(cid:18)(cid:18)(cid:18)ोोोो%%%%भभभभततूूततूू ककककूूूूपपपपनननन भभभभगगुुगगुु तततताााानननन कककक(cid:24)(cid:24)(cid:24)(cid:24) ततततााााररररीीीीखखखख
((((%%%%)))) कककक(cid:24)(cid:24)(cid:24)(cid:24) ततततााााररररीीीीखखखख &&&&ययययााााजजजज ददददययेेययेे हहहह ैैैै ((((ततततााााररररीीीीखखखख////ममममााााहहहह))))
7.00% सरकारी (cid:1)ितभूित 2021 7.00 नया (cid:16)टॉक 03 फरवरी, 2019 21 जुलाई और 21 जनवरी
8.24% सरकारी (cid:1)ितभूित 2027 8.24 15 अग(cid:16)त, 2018 03 फरवरी, 2019 15 फरवरी और 15 अग(cid:16)त
भारत सरकार के अ(cid:16)थ ायी दर वाले बांड 2031 प(cid:27)रवत(cid:29)नीय* 07 (cid:18)दसंबर, 2018 03 फरवरी, 2019 07 जून और 07 (cid:18)दसबं र
7.40% सरकारी (cid:1)ितभूित 2035 7.40 09 िसत(cid:22) बर, 2018 03 फरवरी, 2019 09 माच(cid:29) और 09 िसत(cid:22) बर
8.17% सरकारी (cid:1)ितभूित 2044 8.17 01 (cid:18)दसंबर, 2018 03 फरवरी, 2019 01 जून और 01 (cid:18)दसबं र
*भारत सरकार के अ(cid:18)थ ायी दर वाले बांड 2031:
(i) प(रवत"नीय दर पर <य ाज का भुगतान अधव" ाMषक आधार पर (cid:12)कया जाएगा।
(ii) अ(cid:18)थायी दर वाल े बांड क(cid:21) कूपन दर होगी जो मलू दर होगी तथा यह 182 (cid:12)दवसीय राजकोषीय Wिं डय’ क(cid:21) िपछली 3
नीलािमय’ (दर िनधा"(रत करन े के (cid:12)दन स)े क(cid:21) भा(रत औसत आय (ड<.यूएवाई) तथा नीलामी तंC (cid:4)ारा 100 आधार िब:द ुके
िनयत (cid:18)$ेड के समतु.य होगी। यह (cid:18)$ेड बांड क(cid:21) अविध म *िनयत रहगे ा। अंतMनिहत आय क(cid:21) गणना वष "म * 365 (cid:12)दन को (cid:30) यान
म *रखकर क(cid:21) जाएगी।
(iii) बांड’ क(cid:21) समयाविध के दौरान भारत सरकार क(cid:21) 182 (cid:12)दवसीय राजकोषीय Wिं डय’ क(cid:21) नीलािमय’ को बंद कर (cid:12)दए जाने
क(cid:21) ि(cid:18)थित म,* कूपन क(cid:21) मलू दर, अध"वाMषक कूपन अविध क(cid:21) शु(cid:27)आत से पहले के तीन नॉन-(रपो_टग श(cid:24)ु वार’ को, छह माह
तक भारत सरकार $ितभूित(य’) के िलए $चिलत प(रपSता दर आय (वाई टी एम) क(cid:21) औसत होगी। य(cid:12)द (cid:12)कसी श(cid:24)ु वार को
कोई िवशेष छु‘ी/छु(‘यां ह,8 तो प(रपSता पर आय क(cid:21) दर* वही ह’गी जो िपछले काय" (cid:12)दवस को थी।
(iv) कूपन अविध 7 (cid:12)दसंबर, 2018 स े 6 जून, 2019 के िलए आधार दर 7.05 $ितशत $ित वष" ह।ै तदनसु ार, इस अविध के
िलए एफआरबी 2031 पर <याज दर 8.05 $ितशत $ित वष " होगी। अनुवत@ वष4 के दौरान बांड’ पर अध"वाMषक cप स े दये
<य ाज दर, संबंिधत अध"वाMषक कूपन अविध क(cid:21) श(cid:27)ु आत से पूव" भारतीय (रजव "ब8क (cid:4)ारा घोिषत क(cid:21) जाएगी।
भारत के राeपित के आदशे स,े
अरfवद gीवा(cid:18)तव, संयु, सिचव¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी !!!!ििििततततभभभभििििूूूू ततततयययय.... कककक(cid:19)(cid:19)(cid:19)(cid:19) ननननीीीीललललााााममममीीीी मममम ////अअअअ!!!!िििितततत(cid:16)(cid:16)(cid:16)(cid:16)पपपपधधधध#### बबबबोोोोललललीीीी ससससििुुििुुववववधधधधाााा (cid:16)(cid:16)(cid:16)(cid:16)कककक(cid:19)(cid:19)(cid:19)(cid:19)मममम
IIII.... ककककाााायययय00(cid:27)(cid:27)00(cid:27)(cid:27) (cid:8)(cid:8)ेे(cid:8)(cid:8)ेे :::: सरकारी $ितभिू तय’ क(cid:21) hापक भागीदारी और खुदरा धा(रता को $ो+साहन दने े क(cid:21) दिृ? से भारत सरकार क(cid:21)
(cid:12)दना(cid:12)ं कत $ितभूितय’ क(cid:21) चयिनत नीलािमय’ म* "अ$ित(cid:18)पध@" आधार पर भागीदारी क(cid:21) अनमु ित दने े का $(cid:18)ताव (cid:12)कया गया ह।ै
तOनसु ार, (cid:12)दनां(cid:12)कत $ितभिू तय’ क(cid:21) नीलािमय’ म * अिधसूिचत रािश के 5 $ितशत तक क(cid:21) अ$ित(cid:18)पध@ बोिलया ं (cid:18)वीकार क(cid:21)
जाएंगी। $ारिjत रािश अिधसिू चत रािश के अअअअ2222ततततगगगगतत(cid:27)(cid:27)तत(cid:27)(cid:27) होगी।
IIIIIIII.... पपपपाााा(cid:8)(cid:8)(cid:8)(cid:8)तततताााा :::: भारत सरकार क(cid:21) (cid:12)दनां(cid:12)कत $ितभिू तय’ क(cid:21) नीलािमय’ म * अ$ित(cid:18)पध@ आधार पर ऐसे िनवेशक’ के िलए
भागीदारी खुली होगी जो िनkिलिखत शत4 को पूरा करत ेह8:
1. जो भारतीय (रजव" ब8क के पास चाल ूखाता (सीए) अथवा सहायक सामा:य बही (एसजीएल) खाता नहl रखत ेह;8
अअअअपपपपववववाााादददद:::: jेCीय mामीण ब8क’ (आरआरबी) और सहकारी ब8क’ को उनके सांिविधक दािय+व’ के दिृ?गत इस (cid:18)क(cid:21)म के
अधीन शािमल (cid:12)कया जाएगा।
2. जो $ित नीलामी दो करोड़ (cid:27)पए (अं(cid:12)कत मू.य) से अनिधक रािश के िलए एक ही बोली लगाते ह;8
3. जो यह (cid:18)क(cid:21)म $दान करन े वाल े (cid:12)कसी एक ब8क अथवा $ाथिमक डीलर के मा(cid:30)यम से अपनी बोली अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े
$(cid:18)तुत करत ेह।8
अअअअपपपपववववाााादददद:::: ऐस े jेCीय mामीण ब8क (आरआरबी) तथा सहकारी ब8क जो भारतीय (रजव" ब8क म * एस.जी.एल.खाता और
चाल ूखाता रखत ेह,8 अपनी अ$ित(cid:18)पध@ बोिलय’ को $+यj cप से $(cid:18)तुत करन ेके िलए पाC ह’गे।
IIIIIIIIIIII.... 3333ाााापपपपककककतततताााा:::: उपयु", शत4 के अधीन "अ$ित(cid:18)पध@" आधार पर फम4, कंपिनय’, िनगिमत िनकाय’, सं(cid:18)थाF, भिव2 य
िनिधय’, :यास’ और भारतीय (रजव" ब8क (cid:4)ारा यथा-िनधा"(रत (cid:12)कसी अ:य कंपनी सिहत (cid:12)कसी भी hि, के िलए भागीदारी
खुली ह।ै बोली दने े क(cid:21) :यूनतम रािश 10,000 (cid:27)पए (अं(cid:12)कत मू.य) और उसके बाद 10,000 (cid:27)पए के गुणज’ म * होगी जैसा
अब तक (cid:12)दना(cid:12)ं कत (cid:18)टॉक के िलए ह।ै
IIIIVVVV.... अअअअ2222यययय !!!!चचचचााााललललननननाााा(cid:3)(cid:3)(cid:3)(cid:3)ममममकककक 5555ददददशशशशााााििििननननददददशश77शश77 ::::
1111.... खुदरा िनवेशक के िलए उस ब8क अथवा $ाथिमक डीलर, िजनके मा(cid:30)यम स े वे भाग लेना चाहत े ह,8 के पास एक
संघटक सहायक सामा:य बही (सीएसजीएल) खाता रखना अिनवाय" होगा। कोई भी िनवशे क इस (cid:18)क(cid:21)म के अधीन
(cid:12)दना(cid:12)ं कत $ितभिू त क(cid:21) (cid:12)कसी नीलामी म * केवल एक बोली म* भाग ल े सकता ह।ै इस आशय का वचन (cid:12)क िनवेशक केवल
एक बोली द ेरहा ह,ै ब8क अथवा $ाथिमक डीलर (cid:4)ारा $ाn (cid:12)कया जाना और (रकाड "म *रखा जाना होगा।
2. अपन े mाहक’ स े $ाn पoे आडर" के आधार पर $+यके ब8क अथवा $ाथिमक डीलर भारतीय (रजव" ब8क कोर ब8Hकग
सो.यूशन (ई-कुबेर) $णाली सबं ंधी इले#Jॉिनक $पC म * अपन े mाहक’ क(cid:21) ओर स े एक एकल समे(cid:12)कत अ$ित(cid:18)पध@ बोली
$(cid:18)तुत करेगा। असाधारण प(रि(cid:18)थितय’, जैसे भारतीय (रजव" ब8क कोर ब8Hकग सो.यूशन (ई-कुबेर) $णाली म * सामा:य
गड़बड़ी को छोड़कर, भौितक cप म *अ$ित(cid:18)पध@ बोली (cid:18)वीकार नहl क(cid:21) जाएगी।
3. ब8क अथवा $ाथिमक डीलर को अ$ित(cid:18)पध@ खंड के अधीन आबंटन $ितलाभ/क(cid:21)मत क(cid:21) उस भारािं शत औसत दर
पर होगा, जो $ित(cid:18)पध@ बोली दने े के आधार पर नीलामी म * सामन े आएगी। इस बात पर (cid:30)यान (cid:12)दए िबना (cid:12)क ब8क
अथवा $ाथिमक डीलर ने अपन े mाहक’ स ेभुगतान $ाn कर िलया ह ैया नहl, िनग"म क(cid:21) तारीख को भुगतान $ाn करके
ब8क या $ाथिमक डीलर को $ितभिू तया ंजारी क(cid:21) जाएंगी।
4. ऐस े मामल े म,* जहां बोली क(cid:21) रािश $ारिjत रािश (अिधसिू चत रािश के 5 $ितशत) स े अिधक ह ै यथानुपात
आबंटन (cid:12)कया जाएगा। आिं शक आबंटन’ के मामल े म,* यह ब8क अथवा $ाथिमक डीलर’ का दािय+व होगा (cid:12)क वह अपन े
mाहक’ को $ितभूितय’ का उिचत आबंटन एक पारदश@ तरीके स ेकर*।
5. ऐस ेमामल ेम *जहां बोली रािश $ारिjत रािश स ेकम हो, कमी को $ित(cid:18)पध@ भाग म *शािमल (cid:12)कया जाएगा।
6. $ितभिू त को भारतीय (रजव" ब8क (cid:4)ारा केवल एसजीएल cप म * जारी (cid:12)कया जाएगा। भारतीय (रजव" ब8क इस े या
तो ब8क अथवा $ाथिमक डीलर के मुpय एसजीएल खात े अथवा सीएसजीएल खात े म * जमा करेगा, जैसा(cid:12)क उनके (cid:4)ारा
िनदशK (cid:12)दया गया ह।ै मुpय एसजीएल खात ेम *जमा करन ेक(cid:21) सुिवधा एकमाC उन िनवेशक’ क(cid:21) सेवा के $योजनाथ "ह ैजो
उनके घटक नहl ह।8 अतः ब8क अथवा $ाथिमक डीलर’ को अ$ित(cid:18)पध@ बोिलय’ क(cid:21) िनिवदा दते े समय उनके एसजीएल4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
खात े और सीएसजीएल खात े म* जमा होन े वाली रािशय’ (अं(cid:9)कत मू(cid:14)य) को (cid:18)प2 ट cप से दशा"ना होगा। बाद म * िनवेशक
के अनरु ोध पर मpु य एसजीएल खात ेस ेवा(cid:18)तिवक cप म *क(cid:21) गई सुपुदग" ी (cid:18)वीकाय "ह।ै
7. यह ब8क अथवा $ाथिमक डीलर का दािय+व ह ै (cid:12)क वह mाहक को $ितभिू तया ं ह(cid:18)तांत(रत करे। असाधारण
प(रि(cid:18)थितय’ को छोड़कर, mाहक’ को $ितभूितय’ का अंतरण िनगम" क(cid:21) ितिथ से पांच काय " (cid:12)दवस’ के भीतर पूरा (cid:12)कया
जाएगा।
8. ब8क अथवा $ाथिमक डीलर अपन ेmाहक’ को यह सेवा दने े के िलए छह पैस े$ित सौ (cid:27)पए तक दलाली/कमीशन/सेवा
$भार के cप म *वसूल कर सकते ह।8 ऐसी क(cid:21)मत िब(cid:24)(cid:21) मू.य म *शािमल क(cid:21) जा सकती ह ैया mाहक’ स ेअलग स ेवसूल क(cid:21)
जा सकती ह।ै ऐस े मामल े म * जहा ं $ितभिू तय’ का अंतरण $ितभिू त क(cid:21) िनगम" ितिथ के बाद $भावी होता हो, ब8क या
$ाथिमक डीलर को mाहक (cid:4)ारा दये $ितफल रािश म *िनगम" ितिथ स ेउपिचत <याज शािमल होगा।
9. $ितभिू तय’ क(cid:21) लागत, उपिचत <याज जहां भी लाग ू हो, तथा दलाली/कमीशन/सेवा $भार’ के िलए mाहक’ स े
भुगतान $ाn करन े क(cid:21) काय-" $णाली, ब8क या $ाथिमक डीलर (cid:4)ारा mाहक के साथ क(cid:21) गई सहमित के अनसु ार तैयार क(cid:21)
जाएगी। यह उ.लेखनीय ह ै (cid:12)क (cid:12)कसी अ:य लागत, जैसे िनिधकरण लागत को मू.य म * शािमल नहl (cid:12)कया जाना चािहए
या mाहक’ से वसूल नहl (cid:12)कया जाना चािहए।
VVVV.... ब8क’ और $ाथिमक डीलर’ को भारतीय (रजव" ब8क (ब8क) (cid:4)ारा समय-समय पर मांगी गई योजना के तहत संचालन’ स े
संबंिधत सूचना िनधा"(रत समय सीमा के अंतग"त ब8क को $(cid:18)तुत करनी होगी।
VVVVIIII.... ऊपर उि.लिखत (cid:12)दशािनदशK ब8क (cid:4)ारा समीjा के अधीन ह ैऔर तOनसु ार, जब भी आवqयकता होगी, योजना को संशोिधत
(cid:12)कया जाएगा।
MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 28th January, 2019
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 Security Date of Original Original Tenure Date of Auction Auction Notified Amount
Issue (yy-mm-dd) Maturity Basis Method (in ` Crore)
7.00% GS 2021 Jan.21, 2019 02-00-00 Jan.21, 2021 Price Multiple 2,000
8.24% GS 2027 Feb. 15, 2007 20-00-00 Feb. 15, 2027 Price Multiple 2,000
GoI FRB 2031 May 07, 2018 13-07-00 Dec. 07, 2031 Price Multiple 3,000
7.40% GS 2035 Sep. 09, 2005 30-00-00 Sep. 09, 2035 Price Multiple 2,000
8.17% GS 2044 Dec. 01, 2014 30-00-00 Dec.01, 2044 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 February 01,
2019. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 5
(E-Kuber) system on February 01, 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 February 01,
2019. The payment by successful bidders will be on February 04, 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 rate Date of Last Coupon Date up to which Date of Coupon payments
(%) payment accrued interest is due (month/date)
7.00% GS 2021 7.00 New Stock Feb.03, 2019 Jul. 21 and Jan. 21
8.24% GS 2027 8.24 Aug. 15, 2018 Feb.03, 2019 Feb. 15 and Aug. 15
GoI FRB 2031 Variable* Dec. 07, 2018 Feb.03, 2019 Jun. 07 and Dec. 07
7.40% GS 2035 7.40 Sept. 09, 2018 Feb.03, 2019 Mar. 09 and Sept. 09
8.17% GS 2044 8.17 Dec. 01, 2018 Feb.03, 2019 Jun. 01 and Dec. 01
* GoI FRB 2031:
(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.
ANNEXURE
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 auction6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
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 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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