Business

Government to auction Rs 30,000 crore worth of bonds on April 12

The Finance Ministry announced the sale of government bonds worth Rs 30,000 crore in three categories, to be auctioned by the RBI’s Mumbai Office on April 12. The bonds include 7.32% Govt Security 2030, New Govt Security 2039, and 7.30% Govt Security 2053.

The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each of these securities. Up to 5% of the notified amount will be allotted to eligible individuals and institutions in accordance with the scheme for non-competitive bidding facility.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the RBI Core Banking Solution system on April 12. The result of the auctions will be announced on April 12 and payment by successful bidders will be on April 15.

The securities will be eligible for “When Issued” trading in accordance with RBI guidelines on Central Govt Securities. Stay tuned for more updates on the government bond auction on April 12.

IANS

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

Related Articles