RBI to auction bonds for Rs 50 bn on Sep. 26
RBI to auction bonds for Rs 50 bn on Sep. 26 The central bank decided to auction `5.48% Government Stock 2009` under the market stabilisation scheme (MSS), for Rs 50 billion (nominal) through a price based auction using multiple price method on Sep. 26, 2007.
Up to 5% of the notified amount of the sale of the stock will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility in the auction of government securities.
The result of the auction will be announced on Sep. 26, 2007 and payment by successful bidders will be accepted during banking hours on Sep. 27, 2007 (Thursday).
