Govt Bonds Worth ₹29,000 Crore Coming Up For Auction On May 31

Govt Bonds Worth ₹29,000 Crore Coming Up For Auction On May 31

The Finance Ministry on Monday announced the sale of government bonds worth Rs 29,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on May 31.

IANSUpdated: Tuesday, May 28, 2024, 08:09 AM IST
article-image
Ministry Of Finance |

The Finance Ministry on Monday announced the sale of government bonds worth Rs 29,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on May 31.

The first lot comprises "New Government Security 2029" for a notified amount of Rs 12,000 crore through a yield-based auction using multiple price methods.

The second lot of "New GOI SGRB 2034" worth Rs 6,000 crore will also be auctioned through a yield-based auction using the multiple price method, while the third set of 7.34 per cent Government Security 2064 worth Rs 11,000 crore will be auctioned through price based auction using multiple price method.

The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each of the three securities. Up to five per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities. '

How To apply

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 May 31, 2024.

The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

Auction Results

The result of the auctions will be announced on May 31, 2024 (Friday) and payment by successful bidders will be on June 03, 2024 (Monday). The Securities will be eligible for "When Issued" trading in accordance with the RBI guidelines.

RECENT STORIES

Electricity KYC Update Scam: Telecom Department Takes Action Against 392 Mobile Handsets; 31,740...

Electricity KYC Update Scam: Telecom Department Takes Action Against 392 Mobile Handsets; 31,740...

Nvidia Becomes The Most Valuable Company In The World; Pips Microsoft & Apple

Nvidia Becomes The Most Valuable Company In The World; Pips Microsoft & Apple

India Stems Wealth Exodus Amid Robust Economic Development: Report

India Stems Wealth Exodus Amid Robust Economic Development: Report

Forgot Your UPI Pin? Know How To Reset And Enjoy Hassle-free Payments

Forgot Your UPI Pin? Know How To Reset And Enjoy Hassle-free Payments

I’m Proud Of Our Boeing People: Outgoing CEO David Calhoun Defends Dubious Safety Records

I’m Proud Of Our Boeing People: Outgoing CEO David Calhoun Defends Dubious Safety Records