TAMIL NADU

GOVERNMENT GAZETTE

EXTRAORDINARY PUBLISHED BY AUTHORITY

©

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

GOVERNMENT OF TAMIL NADU

[R. Dis. No. 197/2009.

2024

[Price: Re. 0.80 Paise.

No. 157]

CHENNAI, THURSDAY, APRIL 25,  2024

Chithirai 12, Kurothi, Thiruvalluvar Aandu-2055

II-1 Ex. (157)

[ 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, April 25, 2024.

No. II(1)/FIN/10(k)/2024.

The following Notification is published:—

NOTIFICATION

[No.716(L)/W&M-II/2024]

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

20-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).

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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 April

30, 2024. 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 April 30, 2024. .

(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 May 02, 2024.

Method of Payment:

6. Successful bidders will make payments on May 02, 2024 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 20-year tenure. The tenure of the stock will commence on May 02, 2024.

Date of Repayment:

8. The loan will be repaid at par on May 02, 2044.

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 November 02 and May 02.

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.

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

ON  BEHALF  OF  THE  GOVERNMENT  OF  TAMIL  NADU