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La Gazette de L' État de Poudouchéry The Gazette of Puducherry
PART - I
➢ EXTRAORDINAIRE EXTRAORDINARY
Published by ➢ Publiée par
➢ Autorité Authority ` 2-00 Prix : ` 2-00 Price : ` 2-00 ▪ ➢ 2014 } | 7 {
No. 107 Poudouchéry Vendredi 7 Novembre 2014 (16 Kartika 1936)
No. Puducherry Friday 7th November 2014
GOVERNMENT OF PUDUCHERRY
FINANCE DEPARTMENT (WAYS AND MEANS)
CHIEF SECRETARIAT
LA GAZETTE DE L'ETAT [ PART-I 642 6422. Method of issue.— 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. G.O.Ms. No.1/ FD(W&M)/2008, dated January 8, 2008 at a coupon rate to be determined by the Reserve Bank of India at the yield-based auction under multiple price format.
3. Allotment to non-competitive bidders.— 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 the Union Territory Government Securities of the General Notification (Annexure-II).
4. Place and date of auction.— The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, Fo rt, Mumbai-400 001 on November 11, 2014. 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 November 11, 2014.
(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 12.00 p.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 11.30 a.m.
5. Result of the auction.— 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 November 12, 2014.
6. Method of payment.— S u c c e s s f u l b i d d e r s wi l l m a k e p a y m e n t s on November 12, 2014 before close of banking hours by means of Cash, Banker's Cheque/Pay Order, Demand Draft payable at Reserve Bank of India, Mumbai/ Chennai or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort) /Chennai.
7. Tenure.— The stock will be of ten year tenure. The tenure of the stock will commence on November 12, 2014.
8. Date of repayment.— The loan will be repaid at par on November 12, 2024.
9. Rate of interest.— The cut-off yield determined at the auction will be the coupon rate per cent per annum on the stock sold at the auction. The interest will be paid on May, 12 and November, 12 for every financial year until repayment.
10. Eligibility of securities.— 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.