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MUMBAI: The Reserve Bank of India has set Re 0.3 per Rs 100 as the commission for primary dealers to underwrite bids for the auction of 5.69 per cent Government Stock 2018, said a press release on Tuesday.

The RBI announced the sale (re-issue) of 5.69 per cent Government Stock 2018 for a notified amount of Rs 5,000 crore through a price-based auction using multiple price method.

It also announced the sale of a 30-year G-Sec for a notified amount of Rs 3,000 crore through yield-based auction using uniform price method. For this, it has set the commission at Re 0.5.

The auctions will be conducted on September 8 and successful bidders will have to make the payment on September 9, said a press release.

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