Latest news with #CoreBankingSolution
India Gazette
7 hours ago
- Business
- India Gazette
RBI announces reissue of two Govt securities worth Rs 32000 crore, also open to accept extra Rs 2000 cr
Mumbai (Maharashtra) [India], June 3 (ANI): The Reserve Bank of India (RBI) has announced the re-issue of two Government of India dated securities worth a total of Rs 32,000 crore. A 're-issue' means the RBI is selling more of a bond that is already available in the securities market. This move is part of the government's regular borrowing program. The two securities being re-issued are the 6.92 per cent Government Security (GS) maturing on November 18, 2039, and the 6.90 per cent GS maturing on April 15, 2065. Each of these bonds will be issued for Rs 16,000 crore. Additionally, the RBI has kept the option open to accept up to Rs 2,000 crore extra for each security, depending on market demand. According to the RBI's announcement on Monday, the auction will be held on Friday, June 6, 2025. The settlement, when investors make payments and receive the securities, will take place on Monday, June 9, 2025. The sale will be conducted through the RBI's Core Banking Solution system, known as e-Kuber. Both competitive and non-competitive bids can be submitted electronically on the day of the auction. Non-competitive bids will be accepted between 12:30 p.m. and 1:00 p.m., while competitive bids can be submitted between 12:30 p.m. and 1:30 p.m. The auction will follow a multiple price method, meaning successful bidders will receive the securities at the prices they quote. The central bank also stated that primary dealers can bid for underwriting a part of the issue through the Additional Competitive Underwriting (ACU) facility. These bids will be accepted from 10:30 a.m. to 11:00 a.m. on the same day. The securities will be available for 'When Issued' trading from June 3 to June 6, allowing early trading before the official issuance. Retail investors can also participate through the RBI Retail Direct platform. Moreover, 5 per cent of the notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. This auction is part of the RBI's regular debt management process and offers a secure investment opportunity to investors. The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed. The official GDP growth data for the January-March (Fourth quarter) also showed that the economy grew 7.4 per cent during the quarter. During the April-June, July-September, and October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively. (ANI)
India Gazette
7 hours ago
- Business
- India Gazette
RBI announces reissue of two Govt securities worth Rs 32000 crore
Mumbai (Maharashtra) [India], June 3 (ANI): The Reserve Bank of India (RBI) has announced the re-issue of two Government of India dated securities worth a total of Rs 32,000 crore. A 're-issue' means the RBI is selling more of a bond that is already available in the securities market. This move is part of the government's regular borrowing program. The two securities being re-issued are the 6.92 per cent Government Security (GS) maturing on November 18, 2039, and the 6.90 per cent GS maturing on April 15, 2065. Each of these bonds will be issued for Rs 16,000 crore. Additionally, the RBI has kept the option open to accept up to Rs 2,000 crore extra for each security, depending on market demand. According to the RBI's announcement on Monday, the auction will be held on Friday, June 6, 2025. The settlement, when investors make payments and receive the securities, will take place on Monday, June 9, 2025. The sale will be conducted through the RBI's Core Banking Solution system, known as e-Kuber. Both competitive and non-competitive bids can be submitted electronically on the day of the auction. Non-competitive bids will be accepted between 12:30 p.m. and 1:00 p.m., while competitive bids can be submitted between 12:30 p.m. and 1:30 p.m. The auction will follow a multiple price method, meaning successful bidders will receive the securities at the prices they quote. The central bank also stated that primary dealers can bid for underwriting a part of the issue through the Additional Competitive Underwriting (ACU) facility. These bids will be accepted from 10:30 a.m. to 11:00 a.m. on the same day. The securities will be available for 'When Issued' trading from June 3 to June 6, allowing early trading before the official issuance. Retail investors can also participate through the RBI Retail Direct platform. Moreover, 5 per cent of the notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. This auction is part of the RBI's regular debt management process and offers a secure investment opportunity to investors. The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed. The official GDP growth data for the January-March (Fourth quarter) also showed that the economy grew 7.4 per cent during the quarter. During the April-June, July-September, and October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively. (ANI)
Business Standard
8 hours ago
- Business
- Business Standard
Government of India announces the sale of two dated securities for a notified amount of ₹32,000 crore
The Government of India (GoI) has announced the sale (re-issue) of (i) 6.92% GS 2039 for a notified amount of ₹16,000 crore and (ii) 6.90% GS 2065 for a notified amount of ₹16,000 crore. The auction will be conducted using multiple price method. 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 June 06, 2025 (Friday). GoI will have the option to retain additional subscription up to ₹2,000 crore against each security.
India Gazette
26-05-2025
- Business
- India Gazette
RBI to Auction Rs19,000 Crore in Treasury Bills on May 28
ANI 26 May 2025, 13:38 GMT+10 New Delhi [India] May 26 (ANI): The Reserve Bank of India (RBI) has announced the latest auction of Government of India Treasury Bills (T-Bills) to raise Rs 19,000 crore. The Government uses these short-term debt instruments to manage its immediate funding and liquidity requirements, the central bank said in a press release on May 23. The auction will comprise three tenures: 91-days, 182-days, and 364-days T-Bills, with the total notified amount spread across these maturities. The auction is scheduled for May 28 with the settlement to take place the following day, on May 29. The RBI has stated that the auction will be price-based using multiple price method, allowing potential investors to bid competitively. RBI has advised that the bids for auction should be submitted electronically to its Core Banking Solution (E-Kuber) system. Results of the auction will be announced on the day of the auction. Payment by successful bidders will have to be made on May 29. This latest announcement follows the RBI's successful Government Securities (G-Sec) auction held on May 23 this year, where bonds with a total notified amount of Rs. 27,000 crore were fully subscribed in two tranches--underscoring strong investor appetite for Indian sovereign debt instruments. (ANI)
India Gazette
23-05-2025
- Business
- India Gazette
Rs 27,000 crore government securities auction fully subscribed
New Delhi [India], May 23 (ANI): Government securities (G-sec) auction of Rs. 27,000 crore bonds in two tranches on Friday was fully subscribed, reflecting strong investor demand. The cut-off price for both bonds was above par. The 6.75 per cent G-sec with a notified amount of Rs. 15,000 crore maturing in 2029 was sold at a cut-off price of Rs 103.49, yielding 5.8675 per cent. The 7.09 per cent G-sec with a notified amount of Rs 12,000 crore, maturing in 2054, was sold at a cut-off price of Rs 103.39, yielding 6.8197 per cent. The bond yield is the return an investor expects to receive each year over its term to per the auction results, the development of primary dealers was stated as 'NIL' for both thebonds, indicating healthy demand for G-sec from the investor community. Primary Dealers, commonly referred to as PDs, are financial institutions authorized by the RBI to buy and sell government securities. The underwriting auction was conducted through multiple price-based methods on May 23 (Friday) between 09:00 A.M. and 09:30 A.M. Bids under Additional Competitive Underwriting (ACU) auction was done electronically through the Core Banking Solution (E-Kuber) System. Earlier this year, on March 27, the government had notified the indicative calendar for theissuance of government-dated securities, including Sovereign Green Bonds (SGrBs), for thefirst half of the fiscal year 2025-26 (April 1, 2025, to September 30, 2025). The indicative calendar for such auctions is released beforehand in order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities market. (ANI)
