THE GAZETTE OF INDIA: EXTRAORDINARY

[PART I—SEC. 1]

MINISTRY OF FINANCE

(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 :

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.

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.

Interest:—Interest payable on the special security as on the date of redemption will be paid to the Bank,

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.

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