Government of India have announced the sale (re-issue) of (i) "7.27 percent Government Stock 2013" for a notified amount of Rs.5,000 crore (nominal) and (ii) "6.05 percent Government Stock 2019" for a notified amount of Rs. 7,000 crore (nominal) through price based auctions. Both the auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on March 26, 2009 (Thursday).
Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 and RBI www.rbi.org.in 
should be submitted to that Office on March 26, 2009. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.
The result of the auctions will be announced on March 26, 2009 and payment by successful bidders will be during banking hours on March 30, 2009 (Monday).
The Stocks will be eligible for "When Issued" trading in accordance with the guidelines on 'When Issued transactions in Central Government Securities' issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.
It has been decided, in consultation with the Reserve Bank of India, to hold the auction for Rs.12,000 crore on March 26, 2009 through issuance of (i) 5-9 year security for Rs.5,000 crore and (ii) 10-14 year security for Rs. 7,000 crore instead of the securities offered for sale (re-issue) in the auction held on March 13, 2009 wherein all the bids were rejected by the Reserve Bank of India.
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi - 110001
Dated March 20, 2009
