Open Market Borrowing 2023-24- Auction Scheduled on 19th December 2023 (Tenure 15 years)-reg

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Regn.No. KERBIL/2012/45073 dated 05-09-2012 with RNI Reg No.KL/TV(N)/634/2021-2023 മകരള സർകാർ Government of Kerala 2023

മകരള ഗസറ്

KERALA GAZETTE

അസാധാരണം

EXTRAORDINARY

ആധികാരികാേയി ്പസിദറ്റപടുതുനത

PUBLISHED BY AUTHORITY

തിരുവനനപുരം,

2023 ഡിസംബർ 14 14th December 2023

വ്ാഴം

നർേ

No. 4078 വാലം 12 Vol. XII

1199 വൃശികം 28 28th Vrischikam 1199 Thiruvananthapuram, Thursday

1945 അ്ഗഹായനം 23

23rd Agrahayana 1945

GOVERNMENT OF KERALA

Finance Department

NOTIFICATION

Dated, Thiruvananthapuram, 14th December, 2023.

SS-1/464/2023-FIN.

Government of Kerala hereby notifies the sale of Kerala Government Stock (securities) of 15-year tenure for an aggregate amount of Rs. 2000 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. 18596/SS1/07/Fin. dated July 20, 2007 of Government of Kerala.

This is a digitally signed Gazette. Authenticity may be verified through https://compose.kerala.gov.in/ 2 Object of the Loan

1. (i) The proceeds of the loan will be utilized for financing productive development programmes and projects to be implemented in the State.

(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-400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification No. 18596/SS1/07/Fin. 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, 400 001 on December 19, 2023. 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 December 19, 2023.

(a) The competitive bids shall be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:30 A.M and 11:30 A.M. (b) The non-competitive bids shall be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:30 A.M. and 11:00 A.M.

This is a digitally signed Gazette. Authenticity may be verified through https://compose.kerala.gov.in/ 3 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 December 20, 2023.

Method of Payment

6. Successful bidders will make payments on December 20, 2023 before close of banking hours by means of cash, bankers' cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Thiruvananthapuram or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort)/Thiruvananthapuram.

Tenure

7. The Stock will be of 15-year tenure. The tenure of the Stock will commence on December 20, 2023.

Date of Repayment

8. The loan will be repaid at par on December 20, 2038.

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 June 20 and December 20.

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 Kerala, MIR MOHAMMED ALI, Additional Secretary & Officer on Special Duty (Finance).

____________________________________________________________________________________________________________________________ PUBLISHED BY THE SUPERINTENDENT OF GOVERNMENT PRESSES AT THE GOVERNMENT CENTRAL PRESS, THIRUVANANTHAPURAM, 2023This is a digitally signed Gazette. Authenticity may be verified through https://compose.kerala.gov.in/