Executive Summary:
This document notifies the sale/reissue of Government Stocks by the Government of India. The auction will be conducted by the Reserve Bank of India on December 22, 2017, and payment by successful bidders is due on December 26, 2017. It also includes a scheme for non-competitive bidding in Government Security auctions.
Key Points / Main Content:
Government Stock Reissue:
* The Government of India is selling/reissuing Government Stocks.
* The stocks include GoI FRB 2024, GS 2027, GS 2034, and GS 2051.
* The total notified amount is subject to a limit of 15,000 crore, with an option to retain an additional subscription of up to 1,000 crore.
* The sale is subject to the terms and conditions specified in the notification.
* The Stock will be sold through the Reserve Bank of India, Mumbai Office.
Auction Details:
* The auction will be conducted by the Reserve Bank of India, Mumbai on December 22, 2017.
* Non-competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.
* Competitive bids should be submitted between 10:30 a.m. and 12:00 noon.
* The result of the auction will be displayed by the Reserve Bank of India on December 22, 2017.
* Payment by successful bidders will be on December 26, 2017.
Interest and Repayment:
* Interest will accrue on the nominal value of the Stock from the date of the last coupon payment and will be paid half-yearly.
* The Stocks will be repaid at par on the date of maturity.
Non-Competitive Bidding Scheme:
* Up to 5% of the notified amount will be allotted to eligible individuals and institutions via non-competitive bidding.
* Participation is open to investors who do not maintain a current account or SGL account with the Reserve Bank of India (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 (with exceptions for RRBs and Cooperative Banks maintaining SGL accounts).
* The minimum bid amount is ₹10,000 face value and in multiples thereof.
* Allotment will be at the weighted average rate of yield/price from the competitive bidding.
Impact Analysis
Eligible Individuals and Institutions:
* Impact: Opportunity to participate in Government Security auctions on a non-competitive basis, potentially encouraging wider participation and retail holding of Government securities.
* Action Required: If eligible and interested, establish a CSGL account with a bank or PD, and submit a bid through them adhering to the scheme's guidelines.
Banks and Primary Dealers (PDs):
* Impact: Required to facilitate non-competitive bidding for their constituents, submit consolidated bids, and manage the allocation of securities.
* Action Required: Establish procedures for receiving and submitting non-competitive bids, managing CSGL accounts, and allocating securities to clients. They must also provide information relating to operations under the Scheme to the Reserve Bank of India.
Reserve Bank of India (RBI):
* Impact: Responsible for conducting the auction, displaying results, and issuing securities.
* Action Required: Conduct the auction as per the specified terms, display results on December 22, 2017, and credit securities to the SGL/CSGL accounts of successful bidders.
Government of India:
* Impact: Successful sale/reissue of Government Stocks to meet funding requirements.
* Action Required: Monitor the auction process and ensure compliance with the notification terms.
Key Entities Referenced
Government of India: The issuer of the government stocks and securities mentioned in the notification.
Reserve Bank of India: The central bank responsible for conducting the auction and managing the government securities.
Mumbai, Maharashtra: Location of the Reserve Bank of India office where the auction is conducted.
GoI FRB 2024: A floating rate bond issued by the Government of India, maturing in 2024.
GS 2027: A government stock issued by the Government of India, maturing in 2027.
GS 2034: A government stock issued by the Government of India, maturing in 2034.
GS 2051: A government stock issued by the Government of India, maturing in 2051.
Department of Economic Affairs: A department under the Ministry of Finance responsible for the notification.
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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. 331] NEW DELHI, MONDAY, DECEMBER 18, 2017/ AGRAHAYANA 27, 1939
िििि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)थथथथकक(cid:4)(cid:4)कक(cid:4)(cid:4) ककककाााायययय (cid:4)(cid:4) (cid:4)(cid:4)ििििववववभभभभाााागगगग))))
((((बबबबजजजजटटटट (cid:8)(cid:8)(cid:8)(cid:8)भभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:1)द(cid:3)ली, 18 (cid:1)दस(cid:7)ब र, 2017
ससससररररककककााााररररीीीी (cid:15)(cid:15)(cid:15)(cid:15)टटटटॉॉॉॉकककक कककक(cid:18)(cid:18)(cid:18)(cid:18) ििििबबबब(cid:20)(cid:20)(cid:20)(cid:20)(cid:18)(cid:18)(cid:18)(cid:18) ((((पपपपुनुनुनुन(cid:24)(cid:24)(cid:24)(cid:24)ननननगग(cid:25)(cid:25)गग(cid:25)(cid:25) मम(cid:25)(cid:25)मम(cid:25)(cid:25) )))) ककककेेेे ििििललललएएएए ननननीीीीललललााााममममीीीी
फफफफाााा.... सससस...ंं.ंं 4444((((7777))))----डडडड(cid:2)(cid:2)(cid:2)(cid:2)(cid:4)(cid:4) (cid:4)(cid:4) यय यय एएूूएएूू डडंंडडंं एएएएमममम////2222000011117777....————भारत सरकार एत(cid:2)(cid:3)ारा नीच े (cid:11)दए गए अनसु ार सरकारी (cid:19)टॉक, क(cid:22) िब(cid:25)(cid:22)
(पुन(cid:27)न(cid:28)गम(cid:28) ) अिधसिू चत करती ह।ै
(cid:1)ितभूित का नाम मूल िनग(cid:13)म क(cid:14) अविध प (cid:19) र प(cid:21)ता क(cid:14) नीलामी का नीलामी क(cid:14) अिधसूिचत
तारीख (वष-(cid:13) माह- तारीख आधार िविध रािश
तारीख) (करोड़ म(cid:25))
भारत सरकार के
अ(cid:28)थ ायी दर वाले 07 नव..ं.., 2016 08-00-00 07 नवं, 2024 मू(cid:30)य िविवध 3000
बांड 2024
6.79% स.(cid:1). 2027 15 मई, 2017 10-00-00 15 मई, 2027 मू(cid:30)य िविवध 8000
7.73% स.(cid:1). 2034 12 अ"ू., 2015 19-02-07 19 #दसं., 2034 मू(cid:30)य िविवध 2000
6.62% स.(cid:1). 2051 28 नवं., 2016 35-00-00 28 नवं., 2051 मू(cid:30)य िविवध 2000
7215 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
कुल अिधसिू चत रािश के अ(cid:30)यधीन 15,000 करोड !पए क(cid:22) सीमा तक, भारत सरकार उपयु(cid:28)$त (cid:11)कसी भी %ितभिू त के
प’रपे(य म) 1,000 करोड !पए तक अित’र$त अिभदान का िवक, प बनाए रखेगी। यह िब(cid:25)(cid:22) इस अिधसूचना (िजस े 'िविश0 ट
अिधसूचना' कहा गया ह)ै म )उि,लिखत शत3 के अधीन होगी। इस (cid:19)टॉक क(cid:22) िब(cid:25)(cid:22) भारतीय ’रजव(cid:28) बक7 , मुंबई काया(cid:28)लय, फोट(cid:28),
मुंबई- 400001 के मा(cid:30)यम से भारत सरकार >ारा जारी सामा?य अिधसूचना एफ. स@ं या 4(13)-डB,यू एCड एम/2008,
तारीख 8 अ$त ूबर, 2008 म) िनDदE(cid:28) शत3 के अधीन क(cid:22) जाएगी।
अअअअ(cid:8)(cid:8)(cid:8)(cid:8)िििितततत(cid:11)(cid:11)(cid:11)(cid:11)पपपपधधधध(cid:14)(cid:14)(cid:14)(cid:14) बबबबोोोोललललीीीीददददाााातततताााा(cid:21)(cid:21)(cid:21)(cid:21) ककककोोोो आआआआबबबबटटंंटटंं नननन
2. सरकारी %ितभिू तयF क(cid:22) नीलािमयF म )अ%ित(cid:19)पधG बोली दने े क(cid:22) सिु वधा क(cid:22) संलH (cid:19)क(cid:22)म ((((अअअअननननबबुुबबुु धधंंधधंं )))) के अनुसार, िब(cid:25)(cid:22) क(cid:22)
अिधसूिचत रािश का 5 %ितशत तक सरकारी (cid:19)टॉक पाI J यिKयF और सं(cid:19)थाM को आबं’टत (cid:11)कया जाएगा।
ननननीीीीललललााााममममीीीी ककककाााा (cid:11)(cid:11)(cid:11)(cid:11)थथथथाााानननन एएएएवववव ंं ंंततततााााररररीीीीखखखख
3. यह नीलामी भारतीय ’रजव(cid:28) ब7क, मुंबई काया(cid:28)लय, फोट(cid:28), मुंबई-400001 >ारा 22222222 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26) बब बबरररर,,,, 2222000011117777 को संचािलत क(cid:22)
जाएगी। नीलामी हते ु बोिलया ं भारतीय ’रजव(cid:28) ब7क कोर ब7Oकंग सो,यूशन (ई-कुबेर) %णाली संबंधी इले$Qॉिनक %पI म )
22222222 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बब बब रररर,,,, 2222000011117777 को %(cid:19)तुत क(cid:22) जानी चािहए। अ%ित(cid:19)पधG बोिलया ं पूवा(cid:28)Rन 10.30 बजे से पूवा(cid:28)Rन 11.30 बजे के बीच
और %ित(cid:19)पधG बोिलया ंपूवा(cid:28)Rन 10.30 बजे स ेदोपहर 12.00 बजे के बीच %(cid:19)तुत क(cid:22) जानी चािहए।
ककककबबबब ििििननननगगगग(cid:28)ि(cid:28)ि(cid:28)ि(cid:28)िममममतततत ककककााााररररोोोोबबबबाााारररर
4. यह (cid:19)टॉक, भारतीय ’रजव(cid:28) ब7क >ारा जारी (cid:11)दशािनदशS F के अनसु ार, 'कब िनगि(cid:28) मत’ कारोबार के िलए पाI होगा।
ििििननननगगगगमममम(cid:28)(cid:28)(cid:28)(cid:28) कककक(cid:31)(cid:31)(cid:31)(cid:31) ततततााााररररीीीीखखखख औऔऔऔरररर (cid:11)(cid:11)(cid:11)(cid:11)टटटटॉॉॉॉकककक ककककेेेे ििििललललएएएए भभभभगगुुगगुु तततताााानननन
5. नीलामी का प’रणाम भारतीय ’रजव(cid:28) ब7क >ारा अपन े फोट(cid:28) ि(cid:19)थत मुंबई कायाल(cid:28) य म ) 22222222 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बब बब रररर,,,, 2222000011117777 को %द(cid:27)शत(cid:28)
(cid:11)कया जाएगा। सफल बोलीदाताM >ारा भुगतान 22226666 (cid:24)(cid:24)(cid:24)(cid:24)ददददसससस(cid:26)(cid:26)(cid:26)(cid:26)बब बब रररर,,,, 2222000011117777 अथा(cid:28)त ् पुन(cid:27)न(cid:28)गम(cid:28) क(cid:22) तारीख को (cid:11)कया जाएगा। (cid:19)टॉक
के िलए भुगतान म) नीलामी म) आब’ं टत (cid:19)टॉक के अ(cid:11)ं कत मू,य पर, अिं तम कूपन भुगतान क(cid:22) तारीख से %ो(cid:2)भूत Bयाज दये होन े
क(cid:22) तारीख तक %ो(cid:2)भतू Bयाज शािमल होगा।
(cid:2)(cid:2)(cid:2)(cid:2)ययययााााजजजज ककककाााा भभभभगगुुगगुु तततताााानननन औऔऔऔरररर (cid:11)(cid:11)(cid:11)(cid:11)टटटटॉॉॉॉकककक ककककाााा पपपपननननुुुु भभभभगगु(cid:28)ु(cid:28)गगु(cid:28)ु(cid:28) तततताााानननन
6. अंितम कूपन भुगतान क(cid:22) तारीख स े (cid:19)टॉक के अ(cid:11)ं कत मू,य पर Bयाज %ो(cid:2)भूत होगा तथा इसका भुगतान अUव(cid:28) ा(cid:27)ष(cid:28)क
आधार पर (cid:11)कया जाएगा। (cid:19)टॉक का पुनभु(cid:28)गतान प’रपWता क(cid:22) तारीख पर सममू,य क(cid:22) जाएगा।
(cid:1)ितभूित का नाम कूपन दर अ ंि त म क ूपन भुगतान क(cid:14) #कस तारीख तक (cid:1)ो(भूत कूपन भुगतान क(cid:14) तारीख
(%) तारीख )याज दये ह ै (तारीख / माह)
भारत सरकार के अ(cid:28)थ ायी 07 मई और
दर वाले बांड 2024* अ(cid:28)थ ायी 07 नवं., 2017 25 #दसं., 2017 07 नवं.
15 मई और
6.79% स.(cid:1). 2027 6.79 15 नवं., 2017 25 #दसं., 2017 15 नवं.
7.73% स.(cid:1). 2034 7.73 19 #दसं., 2017 25 #दसं., 2017 19 जून और 19 #दस.ं
6.62% स.(cid:1). 2051 6.62 28 नवं., 2017 25 #दसं., 2017 28 मई. और 28 नवं.
*भारत सरकार के अ(cid:19)थ ायी दर वाले बांड 2024:
(i) अ(cid:19)थ ायी दर पर Bय ाज का भुगतान अU-(cid:28) वा(cid:27)षक(cid:28) आधार पर (cid:11)कया जाएगा।¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 3
(ii) बाद क(cid:22) अध (cid:28) वा(cid:27)षक(cid:28) अविध के संबंध म )भुगतान के िलए प’रवतन(cid:28) ीय कूपन दर संबंिधत अअअअधधधधवव(cid:28)(cid:28)वव(cid:28)(cid:28) ाााा((((षषषषकक(cid:28)(cid:28)कक(cid:28)(cid:28) ककककूूूूपपपपनननन अअअअववववििििधधधध ककककेेेे आआआआररररंंभभंंभभ
हहहहोोोोनननन ेेेे ततततकककक धधधधाााा....ररररतततत भभभभााााररररतततत ससससररररककककाााारररर कककक(cid:31)(cid:31)(cid:31)(cid:31) 111188882222 (cid:24)(cid:24)(cid:24)(cid:24)ददददववववससससीीीीयययय ररररााााजजजजककककोोोोषषषषीीीीयययय ////ििििंंंं डडडडयययय0000 कककक(cid:31)(cid:31)(cid:31)(cid:31) ििििपपपपछछछछललललीीीी ततततीीीीनननन ननननीीीीललललााााििििममममयययय0000 ककककेेेे अअअअििििधधधधककककततततमममम मममम(cid:4)(cid:4)ूू(cid:4)(cid:4)ूू यययय पपपपरररर
अअअअततंंततंं ((((ननननिि(cid:28)(cid:28)िि(cid:28)(cid:28) हहहहतततत आआआआयययय क(cid:22) दो दशमलव तक पणू ा(cid:11)X कत औसत दर होगी। अंत(cid:27)नि(cid:28) हत आय क(cid:22) गणना वष(cid:28) म) 365 (cid:11)दन को (cid:30)य ान म )
रखकर (cid:11)कया जाएगा ।
(iii) य(cid:11)द बांडF क(cid:22) अविध के दौरान भारत सरकार क(cid:22) 182 (cid:11)दवसीय राजकोषीय ]िं डयF क(cid:22) नीलािमयां रोक दी जाती ह 7 तो
कूपन दर, अध(cid:28)वा(cid:27)षक(cid:28) कूपन अविध क(cid:22) शु!आत से पहल ेके अिं तम तीन ’रपो^टXग श(cid:25)ु वारF को छह माह क(cid:22) भारत सरकार क(cid:22)
%ितभिू त क(cid:22) प’रप$व ता दरF का औसत होगी । य(cid:11)द िवशेष शु(cid:25)वार को कोई अवकाश होता ह ै तो प’रप$ वता दरF पर आय
वही दरF पर िहसाब म )ली जाएंगी जो िपछले काय (cid:28)(cid:11)दवस क(cid:22) दर) थa ।
(iv) अनुवतG वष3 के दौरान बाडं F पर अध(cid:28)वा(cid:27)षक(cid:28) bप से दये Bय ाज दर, संबिं धत अध(cid:28)वा(cid:27)षक(cid:28) कूपन अविध क(cid:22) शु!आत से पूव (cid:28)
भारतीय ’रजव(cid:28) बक7 >ारा घोिषत क(cid:22) जाएगी ।
भारत के राdपित के आदशे स,े
%शातं गोयल, संयुK सिचव
अअअअननननबबुुबबुु धधंंधधंं
ससससररररककककााााररररीीीी (cid:8)(cid:8)(cid:8)(cid:8)ििििततततभभभभििििूूूू ततततयययय0000 कककक(cid:31)(cid:31)(cid:31)(cid:31) ननननीीीीललललााााममममीीीी मममम 2222अअअअ(cid:8)(cid:8)(cid:8)(cid:8)िििितततत(cid:11)(cid:11)(cid:11)(cid:11)पपपपधधधध(cid:14)(cid:14)(cid:14)(cid:14) बबबबोोोोललललीीीी ससससििुुििुुववववधधधधाााा (cid:11)(cid:11)(cid:11)(cid:11)कककक(cid:31)(cid:31)(cid:31)(cid:31)मममम
IIII.... ककककाााायययय33(cid:28)(cid:28)33(cid:28)(cid:28) 44ेे44ेे :::: सरकारी %ितभिू तयF क(cid:22) eापक भागीदारी और खुदरा धा’रता को %ोfसाहन दने े क(cid:22) दिृE से भारत सरकार क(cid:22)
(cid:11)दनां(cid:11)कत %ितभिू तयF क(cid:22) चयिनत नीलािमयF म ) "अ%ित(cid:19)पधG" आधार पर भागीदारी क(cid:22) अनमु ित दने ेका %(cid:19)ताव (cid:11)कया गया
ह।ै त(cid:2)नसु ार, (cid:11)दना(cid:11)ं कत %ितभूितयF क(cid:22) नीलािमयF म ) अिधसिू चत रािश के 5 %ितशत तक क(cid:22) अ%ित(cid:19)पधG बोिलया ं (cid:19)वीकार
क(cid:22) जाएंगी। %ारिhत रािश अिधसिू चत रािश के अअअअ5555ततततगगगगतत(cid:28)(cid:28)तत(cid:28)(cid:28) होगी।
IIIIIIII.... पपपपाााा4444तततताााा :::: भारत सरकार क(cid:22) (cid:11)दना(cid:11)ं कत %ितभिू तयF क(cid:22) नीलािमयF म ) अ%ित(cid:19)पधG आधार पर ऐस े िनवेशकF के िलए
भागीदारी खुली होगी जो िनiिलिखत शत3 को पूरा करत ेह:7
1. जो भारतीय ’रजव(cid:28) ब7क के पास चाल ूखाता (सीए) अथवा सहायक सामा?य बही (एसजीएल) खाता नहa रखते ह;7
अअअअपपपपववववाााादददद:::: hेIीय jामीण ब7कF (आरआरबी) और सहकारी ब7कF को उनके सािं विधक दाियfवF के दिृ Eगत इस (cid:19)क(cid:22)म के
अधीन शािमल (cid:11)कया जाएगा।
2. जो %ित नीलामी दो करोड़ !पए (अं(cid:11)कत मू,य) से अनिधक रािश के िलए एक ही बोली लगात ेह;7
3. जो यह (cid:19)क(cid:22)म %दान करन े वाल े (cid:11)कसी एक ब7क अथवा %ाथिमक डीलर के मा(cid:30)यम स े अपनी बोली अ(cid:2)(cid:3)य(cid:5) (cid:6)प स े
%(cid:19)तुत करत ेह।7
अअअअपपपपववववाााादददद:::: ऐस े hेIीय jामीण ब7क (आरआरबी) तथा सहकारी ब7क जो भारतीय ’रजव(cid:28) ब7क म ) एस.जी.एल. खाता और
चाल ूखाता रखत ेह,7 अपनी अ%ित(cid:19)पधG बोिलयF को %fयh bप से %(cid:19)तुत करन ेके िलए पाI हFगे।
IIIIIIIIIIII.... 6666ाााापपपपककककतततताााा:::: उपयु(cid:28)K शत3 के अधीन "अ%ित(cid:19)पधG" आधार पर फम3, कंपिनयF, िनगिमत िनकायF, सं(cid:19)थाM, भिव0य
िनिधयF, ?यासF और भारतीय ’रजव(cid:28) ब7क >ारा यथा-िनधा’(cid:28) रत (cid:11)कसी अ?य कंपनी सिहत (cid:11)कसी भी eिK के िलए भागीदारी
खुली ह।ै बोली देने क(cid:22) ?यूनतम रािश 10,000 !पए (अं(cid:11)कत मू,य) और उसके बाद 10,000 !पए के गुणजF म )होगी जैसा
अब तक (cid:11)दनां(cid:11)कत (cid:19)टॉक के िलए ह।ै
IIIIVVVV.... अअअअ5555यययय (cid:8)(cid:8)(cid:8)(cid:8)चचचचााााललललननननाााा8888ममममकककक (cid:24)(cid:24)(cid:24)(cid:24)ददददशशशशााााििििननननददददशश::शश:: ::::
1111.... खुदरा िनवेशक के िलए उस ब7क अथवा %ाथिमक डीलर, िजनके मा(cid:30)यम से वे भाग लने ा चाहत े ह,7 के पास एक
संघटक सहायक सामा?य बही (सीएसजीएल) खाता रखना अिनवाय (cid:28) होगा। कोई भी िनवेशक इस (cid:19)क(cid:22)म के अधीन4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
(cid:11)दनां(cid:11)कत %ितभिू त क(cid:22) (cid:11)कसी नीलामी म ) केवल एक बोली म ) भाग ल े सकता ह।ै इस आशय का वचन (cid:11)क िनवेशक
केवल एक बोली दे रहा ह,ै ब7क अथवा %ाथिमक डीलर >ारा %ाk (cid:11)कया जाना और ’रकाड (cid:28)म )रखा जाना होगा।
2. अपन े jाहकF स े %ाk पlे आडर(cid:28) के आधार पर %fयके ब7क अथवा %ाथिमक डीलर भारतीय ’रजव(cid:28) ब7क कोर ब7Oकंग
सो,यूशन (ई-कुबेर) %णाली सबं ंधी इले$Qॉिनक %पI म ) अपने jाहकF क(cid:22) ओर स े एक एकल समे(cid:11)कत अ%ित(cid:19)पधG
बोली %(cid:19)तुत करेगा। असाधारण प’रि(cid:19)थितयF, जैसे भारतीय ’रजव(cid:28) ब7क कोर ब7Oकंग सो,यूशन (ई-कुबेर) %णाली म )
सामा?य गड़बड़ी को छोड़कर, भौितक bप म )अ%ित(cid:19)पधG बोली (cid:19)वीकार नहa क(cid:22) जाएगी।
3. ब7क अथवा %ाथिमक डीलर को अ%ित(cid:19)पधG खंड के अधीन आबंटन %ितलाभ/क(cid:22)मत क(cid:22) उस भारांिशत औसत दर
पर होगा, जो %ित(cid:19)पधG बोली दने े के आधार पर नीलामी म ) सामन ेआएगी। इस बात पर (cid:30)यान (cid:11)दए िबना (cid:11)क ब7क
अथवा %ाथिमक डीलर ने अपन े jाहकF स े भुगतान %ाk कर िलया ह ैया नहa, िनगम(cid:28) क(cid:22) तारीख को भुगतान %ाk
करके ब7क या %ाथिमक डीलर को %ितभिू तया ंजारी क(cid:22) जाएंगी।
4. ऐस े मामले म,) जहा ं बोली क(cid:22) रािश %ारिhत रािश (अिधसिू चत रािश के 5 %ितशत) स े अिधक ह ै यथानुपात
आबंटन (cid:11)कया जाएगा। आिं शक आबंटनF के मामल े म,) यह ब7क अथवा %ाथिमक डीलरF का दाियfव होगा (cid:11)क वह
अपन ेjाहकF को %ितभिू तयF का उिचत आबंटन एक पारदशG तरीके स ेकर)।
5. ऐस ेमामल ेम )जहां बोली रािश %ारिhत रािश स ेकम हो, कमी को %ित(cid:19)पधG भाग म )शािमल (cid:11)कया जाएगा।
6. %ितभिू त को भारतीय ’रजव(cid:28) ब7क >ारा केवल एसजीएल bप म ) जारी (cid:11)कया जाएगा। भारतीय ’रजव(cid:28) ब7क इस े या
तो ब7क अथवा %ाथिमक डीलर के मु@य एसजीएल खात े अथवा सीएसजीएल खात े म ) जमा करेगा, जसै ा(cid:11)क उनके
>ारा िनदशS (cid:11)दया गया ह।ै मु@य एसजीएल खाते म ) जमा करन े क(cid:22) सुिवधा एकमाI उन िनवेशकF क(cid:22) सेवा के
%योजनाथ (cid:28) ह ै जो उनके घटक नहa ह।7 अतः ब7क अथवा %ाथिमक डीलरF को अ%ित(cid:19)पधG बोिलयF क(cid:22) िनिवदा दते े
समय उनके एसजीएल खात े और सीएसजीएल खात े म ) जमा होन े वाली रािशयF (अं(cid:9)कत मू(cid:14)य) को (cid:19)प0 ट bप स े
दशान(cid:28) ा होगा। बाद म ) िनवेशक के अनुरोध पर मु@य एसजीएल खात ेसे वा(cid:19)तिवक bप म) क(cid:22) गई सुपुदग(cid:28) ी (cid:19)वीकाय (cid:28)
ह।ै
7. यह ब7क अथवा %ाथिमक डीलर का दाियfव ह ै (cid:11)क वह jाहक को %ितभिू तया ं ह(cid:19)तांत’रत करे। असाधारण
प’रि(cid:19)थितयF को छोड़कर, jाहकF को %ितभूितयF का अंतरण िनगम(cid:28) क(cid:22) ितिथ से पांच काय (cid:28)(cid:11)दवसF के भीतर पूरा
(cid:11)कया जाएगा।
8. ब7क अथवा %ाथिमक डीलर अपन े jाहकF को यह सवे ा दने े के िलए छह पैस े %ित सौ !पए तक
दलाली/कमीशन/सेवा %भार के bप म) वसूल कर सकत े ह।7 ऐसी क(cid:22)मत िब(cid:25)(cid:22) मू,य म ) शािमल क(cid:22) जा सकती ह ै या
jाहकF स ेअलग से वसूल क(cid:22) जा सकती ह।ै ऐस ेमामल ेम) जहां %ितभिू तयF का अंतरण %ितभूित क(cid:22) िनग(cid:28)म ितिथ के
बाद %भावी होता हो, ब7क या %ाथिमक डीलर को jाहक >ारा दये %ितफल रािश म )िनगम(cid:28) ितिथ से उपिचत Bयाज
शािमल होगा।
9. %ितभिू तयF क(cid:22) लागत, उपिचत Bयाज जहां भी लागू हो, तथा दलाली/कमीशन/सेवा %भारF के िलए jाहकF स े
भुगतान %ाk करन े क(cid:22) काय-(cid:28) %णाली, ब7क या %ाथिमक डीलर >ारा jाहक के साथ क(cid:22) गई सहमित के अनुसार
तैयार क(cid:22) जाएगी। यह उ,लेखनीय ह ै (cid:11)क (cid:11)कसी अ?य लागत, जैस ेिनिधकरण लागत को मू,य म )शािमल नहa (cid:11)कया
जाना चािहए या jाहकF स ेवसलू नहa (cid:11)कया जाना चािहए।
VVVV.... ब7कF और %ाथिमक डीलरF को भारतीय ’रजव(cid:28) ब7क (ब7क) >ारा समय-समय पर मांगी गई योजना के तहत संचालनF स े
संबंिधत सूचना िनधा(cid:28)’रत समय सीमा के अंतग(cid:28)त ब7क को %(cid:19)तुत करनी होगी।
VVVVIIII.... ऊपर उि,लिखत (cid:11)दशािनदशS ब7क >ारा समीhा के अधीन ह ै और त(cid:2)नुसार, जब भी आवmयकता होगी, योजना को
संशोिधत (cid:11)कया 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 18th December, 2017
Auction for Sale (Re-issue) of Government Stock (GS)
F. No. 4(7)W&M/2017.—The Government of India hereby notifies sale (re-issue) of the following Government
Stocks:
Name of the Security Date of Original Original Tenure Date of Maturity Auction Auction Notified
Issue (yy-mm-dd) Basis Method Amount
(in ` Crore)
GoI FRB 2024 Nov. 07, 2016 08-00-00 Nov. 07, 2024 Price Multiple 3000
6.79% GS 2027 May 15, 2017 10-00-00 May 15, 2027 Price Multiple 8000
7.73% GS 2034 Oct. 12, 2015 19-02-07 Dec. 19, 2034 Price Multiple 2000
6.62% GS 2051 Nov. 28, 2016 35-00-00 Nov. 28, 2051 Price Multiple 2000
Subject to the limit of ` 15,000 crore, being total notified amount, GoI will have the option to retain additional
subscription up to ` 1,000 crore against any of the above security. 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(13)–W&M/2008, dated October 8, 2008 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 22,
2017. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution
(E-Kuber) system on December 22, 2017. 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 22, 2017. The payment by successful bidders will be on December 26, 2017 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 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 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 Payments
Rate (%) Payment accrued interest is due (month/date)
GoI FRB 2024* Variable Nov. 07, 2017 Dec. 25, 2017 May 07 and Nov. 07
6.79% GS 2027 6.79 Nov. 15, 2017 Dec. 25, 2017 May 15 and Nov. 15
7.73% GS 2034 7.73 Dec. 19, 2017 Dec. 25, 2017 Jun. 19 and Dec. 19
6.62% GS 2051 6.62 Nov. 28, 2017 Dec. 25, 2017 May 28 and Nov. 28
* GoI FRB 2024:6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1]
(i) The interest at a variable rate will be paid half-yearly.
(ii) The variable coupon rate for payment of interest on subsequent semi-annual period shall be the average rate
rounded off up to two decimal places, of the implicit yields at the cut-off prices of the last three auctions of
Government of India 182 day Treasury Bills, held up to the commencement of the respective semi-annual coupon
period. 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 coupon rate 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 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,
PRASHANT GOYAL, 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 per cent 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 circumstances¹Hkkx Iµ[k.M 1º Hkkjr dk jkti=k % vlk/kj.k 7
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 affected subsequent to the issue date of the security, the
consideration amount payable by the client to the bank or PD would also include accrued interest from the
date of issue.
9. Modalities for obtaining payment from clients towards cost of the securities, accrued interest wherever
applicable and brokerage/commission/service charges may be worked out by the bank or PD as per
agreement with the client. It may be noted that no other costs such as funding costs should be built into the
price or recovered from the client.
V. Banks and PDs will be required to furnish information relating to operations under the Scheme to the Reserve Bank
of India (Bank) as may be called for from time to time within the time frame prescribed by the Bank.
VI. The aforesaid guidelines are subject to review by the Bank and accordingly, if and when considered necessary, the
Scheme will be modified.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.