Haryana government has notified the sale of government stock (securities) for an aggregate amount of Rs. 800 crore. A notification to this effect has been issued by the finance department.
The stock will be of ten-year tenure and the tenure of stock will commence on January 30, 2014. The loan will be repaid at par on January 30, 2024. The proceeds of the loan will be utilised for financing plan outlay in connection with the development programmes of the state government.
The auction of the government stock will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort, Mumbai on January 29, 2014. Bids for the auction should be submitted in electronic format, on the Reserve Bank of India Core Banking Solution (e-Kuber) system on January 29, 2014.
The competitive bids should be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) between 10.30 am and 12pm and non competitive bids between 10.30 am and 11.30am. The government stocks up to 10% of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of the notified amount for a single bid as per the revised scheme for non competitive bidding facility in the auctions of state government securities. The results of the auction would be displayed by the Reserve Bank of India on its website on the same day.