No. 72 ]

chennai, Thursday, February 20, 2020

Maasi 8, Vikari, Thiruvalluvar Aandu–2051

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.

2020

[Price: Re. 0.80 Paise.

[ 1 ]

Ex-II-1(72)

Finance Department

market borrowing programme of state government by auction

Secretariat, February 20, 2020.

No. II(1)/FIN/7(a)/2020.

The following Notification is published:—

Notification

[No.463(L)/W&M-II/2020]

Government of Tamil Nadu hereby notifies the sale of Re-issue of 7.39% Tamil Nadu State Development Loan

2037 issued on September 04, 2019 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 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 March 13, 2019 at a coupon rate to be determined by the Reserve Bank of India at

the price 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

February 25, 2020 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 February 25, 2020.

(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 February 26, 2020.

Method of Payment:

6. Successful bidders will make payments on February 26, 2020 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 18 year tenure from the date of commencement i.e. September 04, 2019.

Date of Repayment:

8. The loan will be repaid at par on September 04, 2037.

Rate of Interest:

9. Interest at the rate of 7.39% per annum will accrue on the nominal value of the stock from the date of original

issue date and will be paid half yearly on March 04 and September 04.

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,

Additional Chief Secretary to Government of Tamil Nadu,

Finance Department.