Government of India have announced the sale (re-issue) of (i) "7.46 per cent Government Stock 2017" for a notified amount of Rs. 8,000 crore (nominal) , (ii) "8.35 per cent Government Stock 2022" for a notified amount of Rs.2,000 crore. (nominal) and (iii) "7.50 per cent Government Stock 2034" for a notified amount of Rs.2,000 crore (nominal) through price based auctions using multiple price method. The auctions will be conducted by the Reserve Bank of India , Mumbai Office, Fort, Mumbai on March 13, 2009 (Friday).
Up to 5 per cent 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- 400001 and RBI website www.rbi.org.in 
should be submitted to that Office on March 13, 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 13, 2009 and payment by successful bidders will be during banking hours on March 16, 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.
As per the indicative calendar, the Government of India was to issue a 5-9 year security for Rs.6,000-7,000 crore during the period March 6-13, 2009. Instead, the Government of India, in consultation with the Reserve Bank of India have decided to issue a 5-9 year security for Rs.8,000 crore.
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi - 110001
Dated March 6, 2009
