No. 365]

chennai, friday, september 20,  2019

Purattasi 3, 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.

Ex-II-1(365)

[ 1 ]

Finance Department

market borrowing programme of state government by auction

Secretariat, September 20, 2019.

No. II(1)/FIN/18(b)/2019.

The following Notification is published:—

NOTIFICATION

[No.428(L)/W&M-II/2019]

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

15 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 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

September 24, 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 September 24, 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 September 25, 2019.

Method of Payment:

6. Successful bidders will make payments on September 25, 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 15 year tenure. The tenure of the stock will commence on September 25, 2019.

Date of Repayment:

8. The loan will be repaid at par on September 25, 2034.

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 March 25 and September 25.

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.