TAMIL NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 408]

CHENNAI, WEDNESDAY, JULY 27, 2022

Aadi 11, 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.(408)

[1]

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, July 27, 2022.

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

The following Notifi cation is published:—

NOTIFICATION

[No. 618(L)/W&M-II/2022]

Government of Tamil Nadu hereby notifi es the sale of Tamil Nadu Government Stock (Securities) of 10-year tenure

for an aggregate amount of Rs.2000 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 Offi ce (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.

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).

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 Offi ce, Fort, Mumbai - 400 001 on

August 02, 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 August 02, 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 August 03, 2022.

Method of Payment:

6. Successful bidders will make payments on August 03, 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 August 03, 2022.

Date of Repayment:

8. The loan will be repaid at par on August 03, 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 February 03 and August 03.

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