No. 8]

CHENNAI, THURSDAY, JANUARY 5,  2023

Margazhi 21, 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 THE LEGISLATIVE ASSEMBLY SECRETARIAT

TAMIL  NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

©

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

GOVERNMENT  OF  TAMIL  NADU

[R. Dis. No. 197/2009.

2023

[Price: Re. 0.80 Paise.

[ 1 ]

Ex-II-1(8)

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, January 5, 2023.

No. II(1)/FIN/1(a)/2023.

The following Notification is published:—

NOTIFICATION

[No. 639(L)/W&M-II/2023]

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

10-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.

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).

TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

2

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 January 10, 2023. 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 January 10, 2023.

(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 January 11, 2023.

Method of Payment:

6. Successful bidders will make payments on January 11, 2023 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 January 11, 2023

Date of Repayment:

8. The loan will be repaid at par on January 11, 2033.

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 July 11 and January 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)

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