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Corporate TreasuryRetailing of Government Securities

Retailing of Government Securities

Axis Bank offers facility of non-competitive bidding for Dated Government Securities, through which customers can buy Government Securities directly from the RBI. Participation in the Scheme of non-competitive bidding is now open to individuals, HUFs, firms, companies, corporate bodies, institutions, provident funds, trusts and any other entity prescribed by RBI. Presently regional rural banks, urban co-operative banks and NBFCs are also permitted. The investors bid either in terms of the rate of interest (coupon) for a new security or the price for an existing security being reissued. All the information required such as maturity date of the paper and the size of the auction and the type of the auction (price based or yield based) will be made available to the customers in our branches. The auctions are of two types:

Price based auctions
Are auctions where bids are evaluated on basis of the price of the bond and the cut off is given in Rs or paise
Yield based auction where the cut off is given on the basis of the yield

You can participate in the Non-competitive Bidding by filling the application form, which is available at our branches. Also an undertaking from the investor that he is making a single bid only is necessary as per RBI guideline. You can download the application form by clicking here. Axis Bank will take a nominal charge of 6 paise per Rs 100 as commission for rendering the service to the investors. The commission will be built into the price of the security.

After successful acquisition of the security, the customer can

Keep the security in his name in the CSGL account of Axis Bank in RBI, or,
Get his security credited to his existing demat account with a depository participant.

This facility in presently offered only to existing customers so that the funds can be debited from the account of the investor. The customer (investor) has to have sufficient balance in the account. Click here to know more about our savings bank account.

Axis Bank is a registered member (Depository Participant) of NSDL. Click here to know more about our depository services.

For a detailed understanding of the bidding for Government Securities Click here for FAQs. For any queries, please contact our treasury or the branch in your area.

Click here to apply for a Retailing of Government Securities .

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FAQs

Who can participate in the Scheme?

What is non-competitive bidding for dated Government securities?

What are the advantages of the non-competitive bidding facility?

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Retailing of Government Securities