RBI: Conversion Switch of Government of India Securities

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹12,000 crore (face value) 

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The security-wise details of the conversion/switch are given as under: 

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Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution 

(e-Kuber) system on June 20, 2022 (Monday) between 10:30 AM and 11:30 AM 

The result of the auction will be announced on the same day and settlement will take place on June 21, 2022 (Tuesday)

Government of India reserves the right to: – Accept offers for less than the notified amount. – Purchase marginally higher than the notified amount due to rounding-off effect. – Accept or reject any or all the offers either wholly or partially without assigning any reason.

The market participants are required to place their bids in e-Kuber giving the amount of the source security and the price of the source and destination securities, expressed up to two decimal places.