THE GAZETTE OF INDIA: EXTRAORDINARY

[PART I—Spc. 1]

MINISTRY OF FINANCE

(Department of Economic Affairs)

(BUDGET DIVISION)

NOTIFICATION

New Delhi, the 1 lth April, 2002

Auction for sale of Government Stock of 15 years

KNo.4(9>W&M/2002.—Government of India hereby notifies sale of Government

Stock (securities) of 15 year tenure for an aggregate amount of Rs. 6,000 crore (nominal).

The sale will be subject to the terms and conditions spelt out in this notification (called

'Specific Notification') as also the terms and conditions specified in the General Notification

F.No. 4(2)-W&M/97 dated 1st April, 1997 issued by Government of India as amended by

Notification F.No. 4(7)-W&M/99 dated 5th April, 1999.

Method of Issue

The Government Stock will be sold through the Reserve Bank of India, Mumbai

Office, Fort, Mumbai-400001 in the manner as prescribed in Paragraph 5.1 of the General

Notification No. 4(2)-W&M/97 dated 1st April, 1997 and at a coupon rate to be determined

by the Reserve Bank of India at the auction.

Allotment to 'Non-competitive' Bidders

Government Stock up to 5 % of the notified amount of the sale will be allotted to

eligible individuals and Institutions as per the enclosed Scheme for 'Non-competitive'

Bidding Facility in the Auctions of Government Securities.

Place and Date of Auction

The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort,

Mumbai-400001 on April 15, 2002. The application form duly filled in with the bids should

be submitted to the aforesaid office on April 15, 2002, before the close of banking hours.

Tenure

The Government Stock will be of fifteen years tenure. The tenure of the Stock will

commence from April 16, 2002. The stock will be repaid at par on April 16, 2017.

Pate of issue and payment for the stock

The result of the auction shall be displayed by the Reserve Bank of India at its Fort,

Mumbai office on April 15, 2002. The payment by successful bidders will be on April 16,

2002, i.e., the date of issue.

Interest

The coupon rate for the securities will be set at the cut-off yield to maturity rate

decided in the auction. The interest will be payable half-yearly on October 16 and April 15.

By order of the President of Tndia

MEENA CHATURVEDI, Director