Auction for Sale (Re-Issue) of Government Stock

Auction for Sale (Re-Issue) of Government Stock

The Government of India have announced the Sale (re-issue) of (i) “8.27 per cent Government Stock 2020” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, (ii) “8.40 per cent Government Stock 2024” for a notified amount of  Rs. 6,000 crore (nominal) through price based auction, (iii) “8.24 per cent Government Stock  2033” for a notified amount of Rs. 2,000 crore (nominal) through price based auction,  and (iv) “8.17 per cent Government Stock 2044” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. The auctions will be conducted using multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on December 19, 2014 (Friday).

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

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 December 19, 2014. 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 December 19, 2014 and payment by successful bidders will be on December 22, 2014 (Monday).  

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India (RBI) vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.


Indian Economy has Potential to Grow at a Higher Rate: FM

The Union Finance Minister Shri Arun Jaitley said that the world economy is passing through critical phase while Indian Economy has potential to grow at a higher rate. In this regard he specifically mentioned about unexploited potential of the manufacturing and infrastructure sectors in particular. The Finance Minister Shri Arun Jaitley was speaking to the students of Stanford University, USA when they called on him in his office here today.

The Finance Minister Shri Jaitley further said that various welfare programmes of the Government for vulnerable sections of the society are essential and working well. In this regard he mentioned about food security and education for all programmes among others. The Finance Minister shared with the students the various initiatives taken by the new Government to bring the economy back on the track.

Shri Rajiv Mehrishi, Finance Secretary and, Dr. Arvind Subramanian, Chief Economic Adviser, Ministry of Finance were also present on this occasion among others.

27th IB Centenary Endowment Lecture – 2014

Dr. Avinash Chander, Secretary, Defence Research & Development, Scientific Adviser to Defence Minister and Director General, Defence Research and Development Organisation will deliver the 27th Intelligence Bureau Centenary Endowment Lecture, 2014 at Vigyan Bhawan, New Delhi on December 23, 2014.

The IB Centenary Endowment Lecture provides to a wide cross-section of IB personnel, an opportunity to hear intellectuals, leader s and thinkers on important contemporary issues.

After the first Centenary Endowment Lecture by Dr. Shankar Dayal Sharma, the then Vice-President of India on December 22, 1988 on the subject “The Dynamics of Security Environment”, a Centenary Endowment Lecture is organized in December every year. So far, 26 such Lectures have been delivered by eminent speakers on a wide range of issues related to India’s security and the development of Indian polity.

The Intelligence Bureau completed 100 years of its existence in 1987 and celebrated its Centenary Year in 1988. The yearlong celebrations were marked by seminars, workshops and lectures on national security issues in different parts of the country in which IB personnel interacted with public leaders, administrators, intellectuals and officers of other security agencies.

Suo Motu Statement by the Home Minister Shri Rajnath Singh in Parliament on the arrest of a youth running Twitter handle on behalf of ISIS

Following is the text of the suo motu statement made by the Home Minister Shri Rajnath Singh in Parliament today on the arrest of a youth running Twitter handle on behalf of ISIS:

“Mehdi Masroor Biswas aged around 24years was arrested on December 13,2014 by the Bangalore Police in case crime No.01218/2014 u/s 3,13 and 18 of the Unlawful Activities (Prevention) Act,1967, Section 66 F of the Information Technology Act and Section 125 of the Indian Penal Code. The accused had come to prominence in the electronic media in the U.K regarding his role in circulating ISIS material through a Twitter account. The central agencies worked in close collaboration with the Karnataka Police to develop information leading to his arrest. Mehdi had a Twitter account under the username “Shami Witness”. He used to visit prominent ISIS related sites, mostly in Arabic Language and then translate the contents in to English and repost the material on his twitter account.

During interrogation Mehdi disclosed that more than 60% of his twitter account followers were non-Muslims from western countries and a majority of his Muslim followers were from the western countries, particularly the U.K. Mehdi started closely following the developments in Syria, Iraq and Afghanistan through internet during his college days and has been active in the social networking sites since 2009 . Over a period of time Mehdi started interacting with people in the social networking sites on matters related to “Jihad”.

Mehdi belongs to a middle class family from Kolkata and has done his electrical engineering from Gurunanak Dev Institute of Technology in 2012. He joined ITC following a campus recruitment drive and is currently employed there.

The interrogation of Mehdi Biswas has indicated that his activities were limited to posting and reposting of pro ISIS material on his Twitter account and social media sites. He has denied having recruited any person for ISIS.

Further investigation is in progress.”


MHA to expedite LTV/Citizenship issues of minority nationals from neighbouring countries

The Union Ministry of Home Affairs has convened a meeting here next week with representative associations especially of minority communities from neighbouring countries to address their grievances related to grant of Long Term Visa (LTV) and Indian Citizenship.

Additional Secretary (Foreigners) in the MHA will hold a meeting with representatives from nearly ten such associations on December 23, 2014 to discuss problems being faced by minority communities from neighbouring countries in grant of LTV and Citizenship. They will also be explained the procedure for grant of LTV and Indian Citizenship.

Upon directions from the Union Home Minister Shri Rajnath Singh, the MHA had set up of a Task Force under the Joint Secretary (Foreigners) to monitor and expedite processing of Citizenship and LTV applications, on September 05, 2014. The Task Force has since held interactive sessions in a number of cities across the country having concentrations of such people to monitor and expedite grant of Citizenship/LTV and addressed public grievances.

MHA had received representations from time to time citing hardships and difficulties in grant of LTV/Citizenship applicants, especially of minorities from neighbouring countries who are often of poor economic standing. Reviewing the procedure, the Union Home Minister had directed senior officials in the MHA to expedite the entire process.
Auction for Sale (Re-Issue) of Government Stock Auction for Sale (Re-Issue) of Government Stock Reviewed by Ajit Kumar on 10:44 AM Rating: 5

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