MM TAX CLUB

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹6,000 Crore (Face Value).

TOTAL                                                                6000

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 10, 2023 (Tuesday). The Government Stock up to Ten per cent of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of One per cent of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility. Individual investors can place bids as per the non-competitive scheme also through the Retail Direct portal (https://rbiretaildirect.org.in).

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 10, 2023 (Tuesday). The competitive bids should be submitted between 10.30 A.M. and 11.30 A.M. and non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M.

In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.

For other auction related difficulties, IDMD Auction Team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022- �ेस �काशनी PRESS RELEASE भारतीय �रज़व�ब�क RESERVE BANK OF INDIA वेबसाइट : www.rbi.org.in/hindi संचार िवभाग, क� �ीय कायार्लय, शहीद भगत �संह मागर्, फोटर्, मुंबई-400001 Website : www.rbi.org.in ई-मेल/email : helpdoc@rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai-400001 फोन/Phone: 022- 22660502 2 22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

The yield percent per annum or the price as the case may be, expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State

The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Stock will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.

The results of the auction will be announced on January 10, 2023 (Tuesday) and payment by successful bidders will be made during banking hours on January 11, 2023 (Wednesday) at Mumbai and at respective Regional Offices of RBI

The new State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new stock, interest will be paid half yearly on July 11 and January 11 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and the Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility

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