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The ministry of finance has announced the sale of government floating rate bonds 2028 for 4,000 crore (nominal) through price based auction using uniform price method.

Further, ‘6.10% government security, 2031’ and ‘6.95% Government Security 2061’ will also be auctioned for 13,000 crore and 7,000 crore respectively

The government will have the option to retain additional subscription up to 2,000 crore each against one or more securities. The auctions will be conducted by the Reserve Bank of India on 31 December 31.

Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility in the auction of government securities, the ministry said in a statement.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the RBI banking solution (E-Kuber) system on 31 December. The non-competitive bids should be submitted between 10.30 am and 11 am and the competitive bids should be submitted between 10.30 am and 11.30 am.

The result of the auctions will be announced on 31 December itself and payment by successful bidders will be on 03 January, 2022.

The securities will be eligible for “when issued" trading in accordance with the RBI guidelines.

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