Government of India hereby notifies part redemption of 10 per cent Nationalised Banks (Non-Transferable) Special Security, 2009 (hereinafter referred to as special security) for an amount of Rs. 25.72 crore (nominal) out of the special security issued to Vijaya Bank (hereinafter referred to as the bank) vide Government of India Notification No. 4(13)W-M-93 dated 27th March, 1997 for value aggregating Rs. 302 crore (nominal) subject to the following terms and conditions

The Gazette of India

EXTRAORDINARY

PART I—Section 1

PUBLISHED BY AUTHORITY

No. 76] NEW DELHI, WEDNESDAY, MARCH 27, 2002/CHAITRA 6, 1924

(Department of Economic Affai rs)

NOTIFICATION

New Delhi, the 27th March, 2002

Part redemption of 10 per cent Nationalised Banks' (Non-Transferable) Special Security, 2009

No. F. 4(2)-W&M/2002.—Government of India hereby notifies part redemption of 10 per cent 'Nationalised Banks' (Non-Transferable) Special Security, 2009 (hereinafter referred to as "special security"), for an amount of Rs. 25.72 crore (nominal) out of the special security issued to Vijaya Bank (hereinafter referred to as "the bank") vide Government of India Notification No. 4(13>W&M/93 dated 27th March, 1997 for value aggregating Rs. 302 crore (nominal) subject to the following terms and conditions :

1. Eligibility and limit for redemption :—Only Vijaya Bank shall be eligible to apply and get the special security redeemed and the amount of redemption shall be limited by the amounts of equity capital allowed by the Government to be returned by the Bank. No other person including any bank, company, corporation or any other body except the Vijaya Bank shall be eligible to apply for redemption.

2. Price and date of redemption:—The special security will be redeemed at Rs 10,000/-for every Rs. 10,000 (nominal) i e. at par The special security shall be redeemed on 30th March, 2002 on application from theBank and on tendering of the special security duly discharged along with the application at the Public Debt Office of Reserve Bank of India, Fort, Mumbai-400001.

3. Interest:—Interest payable on the special security as on the date of redemption will be paid to the Bank, 4. Repayment of the remaining amount:—The remaining amount of the special security held by the Bank for value aggregating Rs. 276.28 crore (nominal) after redemption, shall be repayable in six equal annual instalments as specified in paragraph 4 of the Government of India Notification No. 4(13)-W&M/93 dated the 27th March, 1997, unless otherwise notified by the Government.

By Order of the President of India

D. SWARUP, Addl. Secy.