RBI to sell 17 state govt sec for Rs 14,075 cr on Aug 23
22/08/2016 12:33
“The auctions will be conducted using multiple price method on August 23, 2016,” RBI said in a notification.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core banking Solution (E-Kuber) system on August 23, 2016. 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, it said in the filing.
The Reserve Bank of India will determine the maximum yield at which bids will be accepted. Securities will be issued for a minimum nominal amount of Rs 10,000 and multiples of Rs 10,000 thereafter.
The results of the auction will be announced on August 23, 2016 and payment by successful bidders will be made during banking hours on August 24, 2016 at Mumbai and at respective Regional Offices of RBI.
