Panaji, 19th March, 2020 (Phalguna 29, 1941) SERIES I No. 51 PUBLISHED BY AUTHORITY
EXTRAORDINARY
GOVERNMENT OF GOA
Department of Finance
Debt Management Division __
Notification
5-6-2019-Fin(DMU)
Government of Goa hereby notifies the sale of Goa Government Stock (Securities) of 10-year tenure for an aggregate amount of Rs. 144.00 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. 1-45-2005/Fin (DMU)/572 dated April 25, 2017 of Government of Goa.
Object of the Loan
1. (i) The proceeds of the loans will be utilized for financing capital expenditure in connection with the development programmes of the Government of Goa.
(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
(PDO) Fort, Mumbai - 400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification No. 1-45-2005/Fin (DMU)/572 dated April 25, 2017 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 Governments 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).
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 March 23, 2020. 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 March 23, 2020.
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 51 (EXTRAORDINARY) 19TH MARCH, 2020(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 11.30 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 March 24, 2020.
Method of Payment
6. Successful bidders will make payments on March 24, 2020 before close of banking hours by means of cash, bankers' cheque/ pay order, demand draft payable at Reserve Bank of India, Mumbai/Mumbai or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort)/Mumbai.
Tenure
7. The stock will be of 10-year tenure. The tenure of the stock will commence on March 24, 2020.
Date of Repayment
8. The loan will be repaid at par on
March 24, 2030.
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 September 24 and March 24.
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 Goa.
Daulat A. Hawaldar, Commissioner-cum-
Secretary (Finance).
Porvorim, 19th March, 2020.
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