The Reserve Bank of India on Monday announced that government has offered to sell (re-issue) four dated securities for notified amount of Rs 14,000 crore on September 24 using price based auction using multiple price method.
"The Reserve Bank of India at Mumbai will conduct price based auction for securities using multiple price method," the apex bank said in a notification.
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 September 24, 2015. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.
The result of the auctions will be announced on September 24, 2015, RBI notified.