No. 100 ]
chennai, ThursdaY, March 5, 2020
Maasi 22, 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(100)
FINANCE DEPARTMENT
MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION
Secretariat, March 5, 2020.
No. II(1)/FIN/7(f)/2020.
The following Notification is published:—
Notification
[No.465(L)/W&M-II/2020]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of 30-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
March 09, 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 March 09, 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 March 11, 2020.
Method of Payment:
6. Successful bidders will make payments on March 11, 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 30 year tenure. The tenure of the stock will commence on March 11, 2020.
Date of Repayment:
8. The loan will be repaid at par on March 11, 2050.
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 September 11 and March 11.
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.