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Govt announces repurchase of "1.44 per cent Inflation Indexed Government Stock-2023"

| | 11 Jan 2016, 05:29 pm
New Delhi, Jan 11 (IBNS) The Indian government on Monday announced the repurchase of "1.44 per cent Inflation Indexed Government Stock-2023" through reverse auction for an aggregate amount of Rs. 6,500 crore (face value).

The repurchase by the Government of India will be undertaken to redeem the Government Stocks prematurely 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 January 14, 2016 (Thursday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day," read a government statement.
 

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