Super update by RBI..!? Investors have big chance..!?

Reserve bank of india will auction state government bonds worth Rs 14,000 crore on Aug 29. It has been announced that the auction will be conducted through RBI's Core banking Solution (e-GUBER). These bonds bear interest on february 28 and august 30 every year. tamil Nadu, punjab, haryana, bihar, Andhra Pradesh, kerala, and other states are expected to participate in this auction. It has also been announced that competitive and non-competitive bidding will be conducted by Kuber in this auction. These bonds of state governments have a minimum maturity of 8 years to a maximum of 20 years.
Andhra Pradesh government plans to raise Rs 2,000 crore through this auction, bihar government is expected to raise Rs 1,000 crore, haryana may raise Rs 1,500 crore, kerala may raise Rs 3,000 crore, punjab government may raise Rs 2,500 crore and tamil Nadu government may raise Rs 4,000 crore.Through a non-competitive bidding facility, individual investors can apply for a bid through the website https://rbiretaildirect.org.in/#/. These government Securities are governed by the provisions of the government Securities Act, 2006 and government Securities Regulations, 2007. Tenders should be submitted for bidding between 10.30 am to 11.30 am on august 29. For the same non-competitive bidding, it must be submitted between 10.30 am and 11.00 am. RBI has announced that only in case this system fails, the process will be auctioned.An investor may submit more than one competitive bid at the same/different prices in this auction. This gives you a better chance of winning the auction. Overall it can be said to be a great option for safe investment.
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RBI announcement

Sowmiya Sriram

26/08/2022 01:17 PM