Government to sell securities worth Rs 8000 cr

Mumbai, May 18 (UNI) Government of India today announced the Auction of two dated securities, worth Rs 8,000 crore, by the Reserve Bank of India (RBI) on May 25.

The Government has announced the sale of 7.38 per cent Government Stock 2015 for a notified amount of Rs 5,000 crore and 8.35 per cent Government Stock 2022 for a notified amount of Rs 3,000 crore, the RBI said in a statement.

Both of the Government Stocks will be sold through price-based auctions using multiple price method.

Upto 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-nompetitive bidding facility in the auction of Government Securities.

UNI