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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 ▪ ➢ 2017 } ➢ | 8 {
No. 141 Poudouchéry Vendredi 8 Septembre 2017 (17 Bhadra 1939)
No. Puducherry Friday 8th September 2017
GOVERNMENT OF PUDUCHERRY
CHIEF SECRETARIAT
FINANCE DEPARTMENT (WAYS AND MEANS)
[G.O. Ms. No. 36/FD(W&M)/2017-18, Puducherry, dated 8th September 2017]
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 crore (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 in 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 utilised for financing part of Capital Expenditure of Plan Schemes and other Development Schemes under execution;
LA GAZETTE DE L'ETAT [ PART-I 1630 16302. 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 in 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 t h e R e s e r v e B a n k o f I n d i a a t i t s M u m b a i O f f i c e , F o r t , M u mb a i - 4 0 0 0 0 1 on September 12, 2017. 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 September 12, 2017.
(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 September 13, 2017.
6. M et h o d o f p a ym en t. — S uc ce ss fu l b i d d er s wil l ma ke p ayme nt s on September 13, 2017 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 10 (ten) year tenure. The tenure of the stock will commence on September 13, 2017.
8. Date of repayment.— The loan will be repaid at par on September 13, 2027.
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 March 13 and September 13 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)
Dr. V. CANDAVELOU, Secretary to Government (Finance).