No. 298]

CHENNAI, FRIDAY, JULY 12, 2019

Aani 27, 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(298)

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, July 12, 2019.

No. II(1)/FIN/23(b)/2019.

The following Notifi cation is published:—

NOTIFICATION

[No.418(L)/W&M-II/2019]

Government of Tamil Nadu hereby notifi es the sale of Tamil Nadu Government Stock (Securities) of 20 year tenure

for an aggregate amount of Rs.1000 Crore (Nominal). The sale will be subject to the terms and conditions spelt out

in this notifi cation (called Specifi c Notifi cation) as also the terms and conditions specifi ed in the General Notifi cation

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 fl oatation 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 Notifi cation 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 notifi ed amount of the sale will be allotted to eligible individuals and

institutions subject to a maximum limit of 1% of the notifi ed 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 Notifi cation (Annexure II).

Place and Date of Auction:

4. The auction will be conducted by the Reserve Bank of India, at its Mumbai Offi ce, Fort, Mumbai - 400 001

on July 16, 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 July 16, 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 July 17, 2019.

Method of Payment:

6. Successful bidders will make payments on July 17, 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 20 year tenure. The tenure of the stock will commence on July 17, 2019.

Date of Repayment:

8. The loan will be repaid at par on July 17, 2039.

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 January 17 and July 17.

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)

S. KRISHNAN,

Principal Secretary to Government of Tamil Nadu,

Finance Department.