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.

No. 327]

CHENNAI, THURSDAY, AUGUST 31,  2023

Aavani 14, Sobakiruthu, Thiruvalluvar Aandu-2054

II-1 Ex. (327)

[ 1 ]

Part II—Section 1

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

public issued by Secretariat Departments.

NOTIFICATIONS BY GOVERNMENT

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, August 31, 2023.

No. II(1)/FIN/27(b)/2023.

The following Notification is published:—

NOTIFICATION

[No.678(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.644(L)/W&M-II/2023, dated February 22, 2023 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.644(L)/W&M-II/2023, dated February 22,

2023 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

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

ON BEHALF OF THE GOVERNMENT OF TAMIL NADU

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

September 05, 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 September 05, 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 September 06, 2023.

Method of Payment:

6. Successful bidders will make payments on September 06, 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 September 06, 2023.

Date of Repayment:

8. The loan will be repaid at par on September 06, 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 March 06 and September 06.

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)

T. UDHAYACHANDRAN,

Principal Secretary to Government of Tamil Nadu,

Finance Department.