Blitz Bureau
NEW DELHI: The Reserve Bank of India (RBI) on December 18 announced that an underwriting auction, for the sale of Government Securities amounting to Rs 30,000 crore. The auction be held on December 19.
The apex bank also released the cut-off details for its Open Market Operation (OMO) purchase of Government of India securities conducted today. According to the RBI, the Government of India has notified the sale (re-issue) of two Government Securities through an auction.
The securities on offer include Rs 18,000 crore of 6.01 per cent Government Security maturing in 2030 and Rs 12,000 crore of 7.09 per cent Government Security maturing in 2074.
Under the extant scheme of underwriting commitment notified on November 14, 2007, the Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under the Additional Competitive Underwriting (ACU) auction have been specified for Primary Dealers (PDs). For the 6.01 per cent GS 2030, the MUC amount per PD has been fixed at Rs429 crore, with an equal minimum bidding commitment under ACU.
