The Government of India has announced auction of 15-year Stock for an amount of Rs.3,500 crore.

The auction will be conducted by the Reserve Bank of India (RBI) at Mumbai on Thursday, November 11, 1999. Bids, in the prescribed form obtainable from Chief General Manger, Reserve Bank of India, Public Debt Office, Fort, Mumbai should be submitted on Thursday, November 11, 1999 during banking hours. On the basis of bids received, the Reserve Bank of India will determine the maximum yield at which offers will be accepted. The results of the auction will be announced on the same day and payment by successful bidders will be during banking hours on November 12, 1999. The stock will qualify for ready forward facility.