Haryana Government Gazette
EXTRAORDINARY
Published by Authority
© Govt. of Haryana
No. 53-2019/Ext.] CHANDIGARH, MONDAY, MARCH 25, 2019 (CHAITRA 4, 1940 SAKA)
SPECIFIC NOTIFICATION
GOVERNMENT OF HARYANA
FINANCE DEPARTMENT
Notification
The 25th March, 2019
No. 3/1/2017-2WM.— Government of Haryana hereby notifies the sale of Haryana Government Stock (securities) of 17-year tenure for an aggregate amount of Rs. 740 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 No. –Loan-3/1/2003-WM (2) dated July 20, 2007 of Government of Haryana.
Object of the Loan
1. (i)
(ii) Consent of Central Government has been obtained to the floatation of this loan as required by Article 293(3) of the Constitution of India.
Method of Issue
2. Government Stock will be sold through the Reserve Bank of India, Mumbai Office (PDO) Fort, Mumbai- 400001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification No. -3/1/2003- WM (2) dated July 20, 2007 at a coupon rate to be determined by the Reserve Bank of India at the yield based auction under multiple price formats.
Allotment to Non-competitive Bidders
3. The Government Stock up to 10% of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of the notified amount for a single bid as per the Revised Scheme for Non-competitive Bidding Facility in the Auctions of State Government Securities of the General Notification (Annexure-II).
Place and Date of Auction
4. The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort, Mumbai-400001 on March 26, 2019. Bids for the auction should be submitted in electronic format, on the Reserve Bank of India Core Banking Solution (E-Kuber) system as stated below on March 26, 2019.
(a) The competitive bids shall be submitted electronically on the Reserve Bank of India Core Banking 1236 HARYANA GOVT. GAZ. (EXTRA.), MAR. 25, 2019 (CHTR. 4, 1940 SAKA) Result of the Auction
5. The result of the auction shall be displayed by the Reserve Bank of India on its website on the same day. The payment by successful bidders will be on 27 March 2019.
Method of Payment
6. Successful bidders will make payments on 27 March 2019 before close of banking hours by means of cash, bankers' cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai (Fort) /New Delhi.
Tenure
7. The Stock will be of 17 year tenure from the date of commencement i.e. March 27, 2019.
Date of Repayment
8. The loan will be repaid at par on March 27, 2036
Rate of Interest
9. The cut off yield determined at the auction will be the coupon rate percent per annum on the Stock sold at the auction. The Interest will be paid on September 27 and March 27.
Eligibility of Securities
10. The investment in Government Stock will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.
By order and in the name of the Governor of Haryana.
SUNIL SARAN, Secretary Finance-cum-Advisor, Finance Department, Haryana.
56968—C.S.—H.G.P.,Chd.