No. 195]

chennai, friday, may 3,  2019

Chithirai 20, Vikari, Thiruvalluvar Aandu-2050

Part Ii—Section 1

Notifications or Orders of specific character or of particular interest to the public

issued by Secretariat Departments.

Notifications by government

TAMIL  NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

©

[Regd. No. TN/CCN/467/2012-14.

GOVERNMENT  OF  TAMIL  NADU

[R. Dis. No. 197/2009.

2019

[Price: Re. 0.80 Paise.

[ 1 ]

Ex-II-1(195)

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, May 3, 2019.

No. II(1)/FIN/1(q)/2019.

The following Notification is published:—

Notification

[No.408(L)/W&M-II/2019]

Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of Nine year tenure

for an aggregate amount of Rs.1000.00 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.404 (L)/W&M-II/2019, dated 13th March 2019 of Government of Tamil Nadu.

Object of the Loan:

1. (i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under execution.

(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. The 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.404 (L)/W&M-II/2019, dated 13th March 2019 at a coupon rate to be determined by the Reserve Bank of India at

the yield based auction under multiple price formats.

tamil nadu government gazette extraordinary

2

printed  and  published  by  the Director  of  Stationery  and  printing, chennai

on  behalf  of  the  Government  of  Tamil  Nadu

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

May 07, 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 May 07, 2019.

(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.

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 May 08, 2019.

Method of Payment:

6. Successful bidders will make payments on May 08, 2019. before close of banking hours by means of cash,

bankers’ 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.

Tenure:

7. The Stock will be of 09 year tenure. The tenure of the stock will commence on May 08, 2019.

Date of Repayment:

8. The loan will be repaid at par on May 08, 2028.

Rate of Interest:

9. 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 November 08 and May 08.

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 Tamil Nadu)

K. Shanmugam,

Additional Chief Secretary to Government of Tamil Nadu,

Finance Department.