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The Department of Economic Affairs, Ministry of Finance hasnotifiedthe sale (Issue/Re-issue) of the Government Stocks.The sale will be subject to the terms and conditions spelled out in the below-mentioned notification. Read the official announcement below: MINISTRY OF FINANCE (Department of Eco
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FAQ :
The auction will be conducted by the Reserve Bank of India, Mumbai Office on November 27, 2020.
The total notified amount across the listed securities is Rs. 31,000 crore, with an option for the Government to retain additional subscription up to Rs. 2,000 crore against each security.
Participation is possible through competitive and non-competitive bidding. A scheme for non-competitive bidding is available for eligible individuals and institutions who do not have a current account or SGL account with the RBI, allowing them to bid through a bank or Primary Dealer.
The payment by successful bidders will be on December 01, 2020, which is also the date of issue/re-issue for the stocks.
Interest will accrue on the nominal value of the Stock from the date of original issue or the last coupon payment and will be paid half-yearly. The stock will be repaid at par on its maturity date.
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