GOVERNMENT OF PUDUCHERRY
FINANCE DEPARTMENT (WAYS AND MEANS)
CHIEF SECRETARIAT
[G.O. Ms. No. 44/FD(W&M)/2014-15, dated 7th November 2014]
NOTIFICATION
The Lieutenant-Governor as Administrator of the Union Territory of
Puducherry hereby notifies the sale of Puducherry Government Stock (Securities)
of 10 year tenure for an aggregate amount of ` 100.000 crores (Rupees one hundred
crore only) (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. G. O. Ms. No. 1/FD(W&M)/2008,
dated January 8, 2008 and as amended in G.O. Ms. No. 144/FD(W&M)/2009, dated
November 30, 2009 and in G. O. Ms. No. 51/FD (W&M)/2010, dated October 25, 2010 of the
Finance Department (Ways & Means) of the Government of Puducherry.
Object of the loan.— (i) The proceeds of the loan will be utilized for
financing part of Capital Expenditure of Plan Schemes and other Development
Schemes under execution.
(ii) The borrowing is in exercise of the powers conferred on the
Administrator of the Union Territory of Puducherry under section 48A of the
Government of Union Territories Act, 1963 as amended with effect from
May 10, 2006 and in accordance with the terms and conditions imposed by the
Government of India for such borrowing.
[ 641 ]
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No.
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Poudouchéry
Vendredi
7
Novembre
2014 (16 Kartika 1936)
No.
Puducherry
Friday
7th
November
2014
642
LA GAZETTE DE L’ETAT
[ PART-I
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2. 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, Fort, 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.— Successful bidders will make payments 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.
(By order and in the name of the Lieutenant-Governor of Puducherry)
CHANDRAKER BHARTI,
Secretary to Government (Finance).
online publication at “http://styandptg.puducherry.gov.in”
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