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THE GAZETTE OF INDIA : EXTRAORDINARY
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MINISTRY OF FINANCE
(Department of Economic Affairs)
(BUDGET DIVISION)
NOTIFICATION
New Delhi, the 28th January, 2010
Auction for Sale (Re-issue) of '7.02, per cent
Government Stock, 2016'
F. No. 4(1)-W&M/2009.- --Government of India
hereby notifies sale (re-issue) of '7.02 per cent Government
Stock, 2016' (hereinafter called 'the Stock') for an
aggregate amount of Rs. 3,000 crore (nominal). The sale
will be subject to the terms and conditions spelt out in
this notification (called 'Specific Notification') as also
the terms and conditions specified in the General
Notification F. No. 4 (13)-W&M/2008, dated October
8, 2008 issued by Government of India.
Method of Issue
The Stock will be sold through Reserve Bank of India,
Mumbai Office, Fort, Mumbai-400 001 in the manner as
prescribed in paragraph 5.1 of the General Notification
F. No. 4 (13)-W&M/2008, dated October 8, 2008 by a price
based auction using uniform price auction method.
Allotment to Non-competitive Bidders
The Government Stock up to 5% of the notified
amount of the sale will be allotted to eligible individuals
and institutions as per the enclosed Scheme for Non-
competitive Bidding Facility in the Auctions of Government
Securities (Annex).
4. Place and Date of Auction
The auction will be conducted by Reserve
Bank of India, Mumbai Office, Fort, Mumbai-400 001 on
February 5, 2010. Bids for the auction should be submitted
in electronic format on the Negotiated Dealing System
(NDS) on February 5, 2010. 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 12.30 p.m.
When Issued Trading
The Stock will be eligible for "When Issued" trading
in accordance with the guidelines issued by the Reserve
Bank of India.
Tenure
The Stock will be of seven-year tenure commencing
from August 17, 2009. The Stock will be repaid at par on
August 17, 2016.
Date of Issue and Payment for the Stock
The result of the auction shall be displayed by the
Reserve Bank of India at its Fort, Mumbai Office on
February 5, 2010. The payment by successful bidders will
be on February 8, 2010, i.e., the date of re-issue. The
payment for the Stock will include accrued interest on the
nominal value of the Stock allotted in the auction from
the date of original issue, i.e., August 17, 2009 to
February 17, 2010.
Interest
Interest at the rate of 7.02 per cent per annum will
accrue on the nominal value of the Stock from the date of
original issue and will be paid half yearly on
February 17 and August 17.
By Order of the President of India,
SHAKTIKANTA DAS, Jt. Secy.
ANNEX
Scheme for Non-Competitive Bidding Facility in the
Auctions of Government Securities
Scope : With a view to encouraging wider
participation and retail holding of Government Securities it
is proposed to allow participation on "non-competitive"
basis in select auctions of dated Government of India (Gol)
Securities. Accordingly, non-competitive bids up to 5 per
cent of the notified amount will be accepted in the auctions
of dated securities. The reserved amount will be within the
notified amount.
Eligibility : Participation on a non-competitive
basis w the auctions of dated Gol Securities will be open
to investors who satisfy the following :
do not maintain Current Account (CA) or
Subsidiary General Ledger (SGL) account with the
Reserve Bank of India.
Exceptions : Regional Rural Banks (RRBs) and
Co-operative Banks shall be covered under this
Scheme in view of their statutory obligations.
make a single bid for an amount not more than
Rs. two crore (face value) per auction.
3. submit their bid indirectly through any one bank
or PD offering this scheme.
Exceptions : Regional Rural Banks (RRBs) and
Co-operative Banks that maintain SGL account
and current account with the Reserve Bank of
India shall be eligible to submit their non-
competitive bids directly.
4
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART 1
SEC. I ]
HI. Coverage : Subject to the conditions mentioned
above, participation on "non-competitive" basis is open
to any person including firms, companies, corporate bodies,
institutions, provident funds, trusts, and any other entity
as may be prescribed by RBI. The minimum amount for
bidding will be Rs. 10,000 (face value) and thereafter in
multiples in Rs. 10,000 as hitherto for dated stocks.
IV. Other Operational Guidelines :
The retail investor desirous of participating in the
auction under the Scheme would be required to
maintain a Constituent Subsidiary General Ledger
(CSGL) account with the bank or PI) through
whom they wish to participate. Under the Scheme,
an investor can make only a single bid in an
auction of a dated security. An undertaking to
the effect that the investor is making only a single
bid will have to obtained and kept on record by
the bank or PD.
Each bank or PD on the basis of firm orders
received from their constituents will submit a
single consolidated non-competitive bid on behalf
of all its constituents in electronic format on the
Negotiated Dealing System (NDS). Except in
extraordinary circumstances such as general
failure of the NDS system, non-competitive bid in
physical form will not be accepted.
Allotment under the non-competitive segment to
the bank or PD will be at the weighted average
rate of yield/price that will emerge in the auction
on the basis of the competitive bidding. The
securities will be issued to the bank or PI) against
payment on the date of issue irrespective of
whether the bank or PD has received payment
from their clients.
In case the aggregate amount of bid is more than
the reserved amount (5% of notified amount), pro
rata allotment would be made. In case of partial
allotments, it will be the responsibility of the bank
or PD to appropriately allocate securities to their
clients in a transparent manner.
In case the aggregate amount of bids is less than
the reserved amount, the shortfall will be taken to
competitive portion.
Security would be issued only in SGL form by
RBI. RBI would credit either the main SGL account
or the CSGL account of the bank or PD as
indicated by them. The facility for affording credit
to the main SGL account is for the sole purpose of
servicing investors who are not their constituents.
Therefore, the bank or PD would have to indicate
clearly at the time of tendering the non-
competitive bids the amounts (face value) to be
credited to their SGL account and the CSGL
account. Delivery in physical form from the main
SGL account is permissible at the instance of the
investor subsequently.
It will be the responsibility of the bank gy the PD
to pass on the securities to their clients. Except in
extraordinary circumstances, the transfer of
securities to the clients shall be completed within
five working days from the date of issue.
The bank or PD can recover up to six paise per
Rs. 100 as brokerage/commission/service charges
for rendering this service to their clients. Such
costs may be built into the sale price or recovered
separately from the clients. In case the transfer of
securities is effected subsequent to the issue date
of the security, the consideration amount payable
by the client to the bank or PD would also include
accrued interest from the date of issue.
9. Modalities for obtaining payment from clients
towards cost of the securities, accrued interest
wherever applicable and brokerage/commission/
service charges may be worked out by the bank
or PD as per agreement with the client. It may be
noted that no other costs such as funding costs
should be built into the price or recovered from
the client.
V. Banks and PDs will be required to furnish
information relating to operations under the Scheme to the
Reserve Bank of India (Bank) as may be called for from
time to time within the time frame prescribed by the Bank.
. VI. The aforesaid guidelines are subject to review
by the Bank and accordingly, if and when considered
necessary, the Scheme will be modified.
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THE GAZETTE OF INDIA : EXTRAORDINARY
[PAR]: 1— SEC. 11
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NOTIFICATION
New Delhi, the 28th January, 2010
Auction for Sale (Re-issue) of '6.35 per cent
Government Stock, 2020'
F. No. 4(1)-W & M/2009 (i).—Government of India
hereby notifies sale (re-issue) of '6.35 per cent Government
Stock, 2020' (hereinafter called 'the Stock') for an
aggregate amount of Rs. 3,000 crore (nominal). The sale
will be subject to the terms and conditions spelt out in
this notification (called 'Specific Notification') as also
the terms and conditions specified in the General
Notification F. No. 4 (13)-W&M/2008, dated October
8, 2008 issued by Government of India.
Method of Issue
The Stock will be sold through Reserve Bank of India,
Mumbai Office, Fort, Mumbai- 400 001 in the manner as
prescribed in paragraph 5.1 of the General Notification
F. No. 4 (I3)-W&M/2008, dated October 8, 2008 by a price
based auction using uniform price auction method.
Allotment to Non-competitive Bidders
The Government Stock upto 5% of the notified
amount of the sale will be allotted to eligible individuals
and institutions as per the enclosed Scheme for Non-
competitive Bidding Facility in the Auctions of Government
Securities (Annex).
Place and Date of Auction
The auction will be conducted by Reserve
Bank of India, Mumbai Office, Fort, Mumbai-400 001 on
February 5, 2010. Bids for the auction should be submitted
in electronic format on the Negotiated Dealing System
(NDS) on February 5, 2010. 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 12.30 p.m.
When Issued Trading
The Stock will be eligible for "When Issued" trading
in accordance with the guidelines issued by the Reserve
Bank of India.
Tenure
The Stock will be of seventeen-year tenure
commencing from January 2, 2003. The Stock will be repaid
at par on January 2, 2020.
Date of Issue and Payment for the Stock
The result of the auction shall be displayed by the
Reserve Bank of India at its Fort, Mumbai Office on
February 5, 2010. The payment by successful bidders will
be on February 8, 2010, i.e., the date of re-issue. The
payment for the Stock will include accrued interest on the
nominal value of the Stock allotted in the auction from
the date of last coupon payment, i.e., January 2, 2010 to
February 7, 2010.
[ 4-TRI I —qSI U 5 1 ]
gird 7-1 t1 s145l : 31141ITTu1
7
8. Interest
Interest at the rate of 6.35 per cent per annum will
accrue on the nominal value of the Stock from the date of
last coupon payment and will be paid half yearly on
July 2 and January 2.
By Order of the President of India
SHAKTIKANTA DAS, Jt. Secy.
ANNEX
Scheme for Non-Competitive Bidding Facility in the
Auctions of Government Securities
Scope : With a view to encopraging wider
participation and retail holding of Government Securities it
is proposed to allow participation on "non-competitive"
basis in select auctions of dated Government of India (GoI)
Securities. Accordingly, non-competitive bids upto 5 per
cent of the notified amount will be accepted in the auctions
of dated securities. The reserved amount will be within the
notified amount.
Eligibility : Participation on a non-competitive
basis in the auctions of dated Gol Securities will be open to
investors who satisfy the following :
I. do not maintain Current Account (CA) or
Subsidiary General Ledger (SGL) account with the
Reserve Bank of India.
Exceptions : Regional Rural Banks (RRBs) and
• Co-operative Banks shall be covered under this
Scheme in view of.their statutory obligations.
make a single bid for an amount not more than
Rs. two crore (face value) per auction.
submit their bid indirectly through any one bank
or PD offering this scheme.
Exceptions : Regional Rural Banks (RRBs) and
Co-operative Banks that maintain SGL account
and current account with the Reserve Bank of
India shall be eligible to submit their non-
competitive bids directly.
Coverage : Subject to the conditions mentioned
above, participation on "non-competitive" basis is open
to any person including firms, companies, corporate bodies,
institutions, provident funds, trusts, and any other entity
as may he prescribed by RBI. The minimum amount for
bidding will be Rs. 10,000 (face value) and thereafter in
multiples in Rs. 10,000 as hitherto for dated stocks.
Other Operational Guidelines :
1. The retail investor desirous of participating in the
auction under the Scheme would be required to
maintain a Constituent Subsidiary General Ledger
(CSGL) account with the bank or PD through
whom they wish to participate. Under the Scheme,
an investor can make only a single bid in an
auction of a dated security. An undertaking to
the effect that the investor is making only a single
bid will have to obtained and kept on record by
the bank or PD.
Each Bank or PD on the basis of firm orders
received from their constituents will submit a
single consolidated non-competitive bid on behalf
of all its constituents in electronic format on the
Negotiated Dealing System (NDS). Except in
extraordinary circumstances such as general
failure of the NDS system, non-competitive bid in
physical form will not be accepted.
Allotment under the non-competitive segment to
the bank or PD will be at the weighted average
rate of yield/price that will emerge in the auction
on the basis of the competitive bidding. The
securities will be issued to the bank or PD against
payment on the date of issue irrespective of
whether the . bank or PD has received payment
from their clients.
In case the aggregate amount of bid is more than
the reserved amount (5% of notified amount), pro-
rata allotment would be made. In case of partial
allotments, it will be the responsibility of the hank
or PD to appropriately allocate securities to their
clients in a transparent manner.
In case the aggregate amount of bids is less than
the reserved amount, the shortfall will be taken to
competitive portion.
Security would be issued only in SGL form by
RBI. RBI would credit either the main SGL account
or the CSGL account of the bank or PD as
indicated by them. The facility for affording credit
to the main SGL account is for the sole purpose of
servicing investors who are not their constituents.
Therefore, the bank or PD would have to indicate
clearly at the time of tendering the non-
competitive bids the amounts (face value) to be
credited to their SGL account and the CSGL
account. Delivery in physical form from the main
SGL account is permissible at the instance of the
investor subsequently.
It will be the responsibility of the bank or the PD
to pass on the securities to their clients. Except in
extraordinary circumstances, the transfer of
securities to the clients shall be completed within
five working days from the date of issue.
The bank or PD can recover upto six paise per
Rs. 100 as brokerage/commission/service charges
for rendering this service to their clients. Such
costs may be built into the sale price or recovered
separately from the clients. In case the transfer of
securities is effected subsequent to the issue date
of the security, the consideration amount payable
by the client to the bank or PD would also include
accrued interest from the date of issue.
Modalities for obtaining payment from clients
towards cost of the securities, accrued interest
wherever applicable and brokerage/commission/
service charges may be worked out by the bank
or PD as per agreement with the client. It may be
8
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART I—SEC. I ]
noted that no other costs such as funding costs
should be built into the price or recovered from
the client.
Banks and PDs will be required to furnish
information relating tooperations under the Scheme to the
Reserve Bank of India (Bank) as may be called for from
time to time within the time frame prescribed by the Bank.
The aforesaid guidelines are subject to review by
the Bank and accordingly, if and when considered
necessary, the Scheme will be modified.
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NOTIFICATION
New Delhi, the 28th January, 2010
Auction for Sale (Re-issue) of '8.24 per cent
Government Stock, 2027'
F. No. 4(1)-W & M/2009(ii).---tio yernment of India
hereby notifies sale (re-issue) of '8.24 per cent Government
Stock, 2027' (hereinafter called
the Stock') for an
aggregate amount of Rs. 2,000 crore (nominal). The sale
will be subject to the terms and conditions spelt out in
this notification (called 'Specific Notification') as also
the terms and conditions specified in the General
Notification F. No. 4(13)-W&M/2008, dated October
8, 2008 issued by Government of India.
2. Method of Issue
The Stock will be sold through Reserve Bank of India,
Mumbai Office, Fort, Mumbai- 400 001 in the manner as
prescribed in paragraph 5.1 of the General Notification
F. No. 4 (13)-W&M/2008, dated October 8,2008 by a price
based auction using uniform price auction method.
10
THE GAZETTE OF INDIA : EXTRAORDINARY
I PART I
SEC. I I
Allotment to Non-competitive Bidders
The Government Stock up to 5% of the notified
amount of the sale will be allotted to eligible individuals
and institutions as per the enclosed Scheme for Non-
competitive Bidding Facility in the Auctions of Government
Securities (Annex).
Place and Date of Auction
The auction will be conducted by Reserve
Bank of India, Mumbai Office, Fort, Mumbai-400 001 on
February 5, 2010. Bids for the auction should be submitted
in electronic format on the Negotiated Dealing System
(NDS) on February 5, 2010. The non-competitive bids
should be submitted between 10.30 am. and 11.30 am. and
the competitive bids should be submitted between 10.30
a.m. and 12.30 p.m.
When Issued Trading
The Stock will be eligible for "When Issued" trading
in accordance with the guidelines issued by the Reserve
Bank of India.
Tenure
The Stock will be of twenty-year tenure commencing
from February 15, 2007. The Stock will be repaid at par on
February 15, 2027.
Date of Issue and Payment for the Stock
The result of the auction shall be displayed by the
Reserve Bank of India at its Fort, Mumbai Office on
February 5, 2010. The payment by successful bidders will
be on February 8, 2010, i.e., the date of re-issue. The
payment for the Stock will include accrued interest on the
nominal value of the Stock allotted in the auction from
the date of last coupon payment, i.e., August 15, 2009 to
February 7, 2010.
Interest
Interest at the rate of 8.24 per cent per annum will
accrue on the nominal value of the Stock from the date of
last coupon payment and will be paid half yearly on
February 15 and August 15.
By Order of the President of India
SHAKTIKANTA DAS, Jt. Secy.
ANNEX
Scheme for Non-competitive Bidding Facility in the
Auctions of Government Securities
Scope : With a view to encouraging wider
participation and retail holding of Government Securities it
is proposed to allow participation on "non-competitive"
basis in select auctions of dated Government of India (Got)
Securities. Accordingly, non-competitive bids up to 5 per
cent of the notified amount will be accepted in the auctions
of dated securities. The reserved amount will be within the
notified amount.
Eligibility : Participation on a non-competitive
basis in the auctions of dated Got Securities will be open to
investors who satisfy the following :
1. do not maintain Current Account (CA) or
Subsidiary General Ledger (SGL) account with the
Reserve Bank of India.
Exceptions : Regional Rural Banks (R_Rfiks) and
Co-operative Banks shall be covered under this
Scheme in view of their statutory obligations.
make a single bid for an amount not more than
Rs. two crore (face value) per auction.
submit their bid indirectly through any one bank
or PD offering this scheme.
Exceptions : Regional Rural Banks (RRBs) and
Co-operative Banks that maintain SGL account
and current account with the Reserve Bank of
India shall be eligible to submit their non-
competitive bids directly.
Coverage : Subject to the conditions mentioned
above, participation on "non-competitive" basis is open
to any person including firms, companies, corporate bodies.
institutions, provident funds, trusts, and any other entity
as may be prescribed by RBI. The minimum amount for
bidding will he Rs. 10,000 (face value) and thereafter in
multiples in Rs. 10,000 as hitherto for dated stocks.
Other Operational Guidelines :
The retail investor desirous of participating in the
auction undei. the Scheme would be required to
maintain a Constituent Subsidiary General Ledger
(CSGL) account with the bank or PD through
whom they wish to participate. Under the Scheme,
an investor can make only a single bid in an
auction of a dated security. An undertaking to
the effect that the investor is making only a single
bid will have to obtained and kept on record by
the bank or PD.
Each bank or PO on the basis of firm orders
received from their constituents will submit a
single consolidated non-competitive bid on behalf
of all its constituents in electronic format on the
Negotiated Dealing System (NDS). Except in
extraordinary circumstances such as general
failure of the NDS system, non-competitive hid in
physical form will not be accepted.
Allotment under the non-competitive segment to
the hank or PD will be at the weighted average
rate of yield/price that will emerge in the auction
on the basis of the competitive bidding. The
securities will be issued to the bank or PD against
payment on the date of issue irrespective of
whether the bank or PD has received payment
from their clients.
In case the aggregate amount of bid is more than
the reserved amount (5% of notified amount), pro
rata allotment would be made. In case of partial
allotments, it will be the responsibility of the bank
or PD to appropriately allocate securities to their
clients in a transparent manner.
1,1110 I I
I urn
171771 77 el fist : 374ftt.T779
5. In case the aggregate amount of bids is less than
the reserved amount, the shortfall will be taken to
competitive portion.
6 Security would be issued only in SGL form by
RBI. RBI would credit either the main SGI, account
or the CSGI. account of the bank or PD as
indicated by them. The facility for affording credit
to the main SCil . account is for the sole purpose of
servicing investors who are not their constituents.
Therefore, the bank or PD would have to indicate
clearly at the time of tendering the non-
competitive bids the amounts (face value) to be
credited to their SGL account and the GSGI.
account. Delivery in physical form from the main
SGL. account is permissible at the instance of the
investor subsequently.
It will he the responsibility of the bank or the PD
to pass on the securities to their clients. Except in
extraordinary circumstances, the transfer of
securities to the clients shall be completed within
live vorking days from the date of issue.
The bank or PD can recover up to six paise per
Rs, 100 as brokeragn:ommi_ssion/service charges
for rendering this service to their clients. Such
costs may he built into the sate price or recovered
separately from the clients. In case the transfer of
securities is effected subsequent to the issue. date
ofthe security, the consideration amount payable
by the client to the hank or PI) would also include
accrued interest from the date of issue.
9. Modalities for obtaining payment from clients
towards cost of the securities, accrued interest.
wherever applicable and brokerage/commission/
service charges may he worked out by the bank
or PD as per agreement with the client. It may be
noted that no other costs such as funding costs
should he built into the price or recovered from
the client.
Banks and PM will be required to furnish
information relating to operations under the Scheme to the
Reserve Bank of India (Bank) as may he called for from
time to time within the time frame prescribed by the Bank
The aforesaid guidelines are subject to review by
the Bank and accordingly, if and when considered
necessary, the Scheme will be modified.
Printed by the Manager, Govt. of India Press, Ring Road, Mayoral, New Delhi-Ili/OM
and Published by the Controller of Publications, Delhi-1 10054