TAMIL NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 402]

CHENNAI, FRIDAY, JULY 22, 2022

Aadi 6, Subakiruthu, Thiruvalluvar Aandu-2053

Part II—Section 1

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

issued by Secretariat Departments.

NOTIFICATIONS BY GOVERNMENT

©

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

GOVERNMENT OF TAMIL NADU

[R. Dis. No. 197/2009.

2022

[Price: Re. 0.80 Paise.

II-1—Ex.(402)

[1]

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, July 22, 2022.

No. II(1)/FIN/36(h)/2022.

The following Notification is published:—

NOTIFICATION

[No.617(L)/W&M-II/2022]

Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of 10 year tenure

for an aggregate amount of Rs.2500 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.

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).

2

TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

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

July 26, 2022. 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 26, 2022. .

(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 11.30 A.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 11.00 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 27, 2022.

Method of Payment:

6. Successful bidders will make payments on July 27, 2022 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 10 year tenure. The tenure of the stock will commence on July 27, 2022.

Date of Repayment:

8. The loan will be repaid at par on July 27, 2032.

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 27 and July 27.

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)

N. MURUGANANDAM,

Additional Chief Secretary to Government of Tamil Nadu,

Finance Department.

PRINTED  AND  PUBLISHED  BY  THE COMMISSIONER  OF  STATIONERY  AND  PRINTING, CHENNAI

ON  BEHALF  OF  THE  GOVERNMENT  OF  TAMIL  NADU