The Reserve Bank of India has decided to offer 12.59% Government Stock 2004 from its investment portfolio for sale through auction on July 12, 2001, for an aggregate amount of Rs.5000 crore.

Application forms may be obtained from Internal Debt Management Cell, Reserve Bank of India, 16^th Floor, Central Office Building, Mumbai or from Public Debt Office, Reserve Bank of India, Mumbai Office.

The bids should be tendered on July 12, 2001 up to 2.30 p.m. On the basis of the tenders received, the RBI will determine the minimum price upto which tenders for purchase of Government securities will be accepted at the auction. The settlement will be on July 13, 2001. Reserve Bank has the right to accept or reject any or all the bids either wholly or partially if deemed fit without assigning any reason.