Source: News Bharati English22 Oct 2016 15:39:48

New Delhi, October 22: Union Government has announced the repurchase of its securities through reverse auction for an aggregate amount of Rs. 20,000 crore. The security-wise details of the repurchase are given as under:

S. No.

Nomenclature

Date of maturity

1

8.07 % Government Stock 2017 

15-Jan-2017

2

7.49 % Government Stock 2017 (con)

16-Apr-2017

3

8.07 % Government Stock 2017 - Jul

3-Jul-2017

4

7.99 % Government Stock 2017

9-Jul-2017

5

7.46 % Government Stock 2017

28-Aug-2017

The repurchase by the Government will be undertaken to redeem prematurely the Government Stocks by utilizing surplus cash balances. The above repurchase of the Government stocks is purely ad hoc in nature.

Auction for securities will be on price-based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 24 i.e. Monday between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.