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MUMBAI: The Reserve Bank of India proposes to raise Rs 6,000 crore through the sale (reissue) of the 11.83 per cent government stock 2014 and Rs 3,000 crore through the sale (reissue) of the 7.40 per cent government stock 2035.

According to a release from the central bank, the price-based auction will be conducted using the multiple price method. Up to five per cent of the notified amount of the stock sale will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility.

Results will be announced the same evening and successful bidders will have to make the payment by October 7.

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