Government of India have announced the sale (re-issue) of "7.56 per cent Government Stock 2014" for a notified amount of Rs. 3,000 crore (nominal) and "6.83 per cent Government Stock 2039" for a notified amount of Rs.3,000 crore. Both the stocks will be sold through price based auctions using multiple price method. Government of India has also announced the sale of a new 10-year security for a notified amount of Rs. 4,000 crore. The new 10-year security will be sold through yield based auctions using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on January 30, 2009 (Friday).
Up to 5 per cent of the notified amount of the sale of both 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 January 30, 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 January 30, 2009 and payment by successful bidders will be during banking hours on February 2, 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 auction dated securities for the nominal amounts of Rs.6,000 crore and Rs.4,000 crore with 10-14 year tenure and 20-years and above tenure respectively during January 23-30, 2009. Instead, the Government of India, in consultation with the Reserve Bank of India have decided to auction three dated securities of (i) 5-9 year tenure for Rs. 3,000 crore (nominal) (ii) 10-14 year tenure for Rs. 4,000 crore (nominal) and (iii) 20 year and above tenure for Rs. 3,000 crore.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
New Delhi-110001
Dated January 27, 2009
