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RBI to sell 3 government securities totalling Rs 30,000 crore

RBI to sell 3 government securities totalling Rs 30,000 crore

The Reserve Bank of India on Monday announced sale of three government dated securities totalling Rs 30,000 crore.

The securities will be sold through the Reserve Bank of India’s Mumbai office on August 21.

“Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of Rs 30,000 crore...,” the RBI said, adding that the government will have the option to retain additional subscription up to Rs 2,000 crore against each security.

It further said that both competitive and non-competitive bids for the auction should be submitted in electronic format on the RBI Core Banking Solution (E-Kuber) system on August 21.

“The result will be announced on the same day and payment by successful bidders will have to be made on August 24, 2020 (Monday),” RBI said.

The auction will be a multiple price-based auction -- successful bids will get accepted at their respective quoted price for the security.

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