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Date: 19-Jul-2023 Category: Extra Ordinary State: Union Government Country: India

Cancellation of a part of outstanding stock of Non interest bearing Government of India IDBI Special Security 2024

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

What it means

  • The gazette notification announces the cancellation of a portion of the outstanding stock of the Government of India's non-interest-bearing IDBI Special Security, 2024.
  • The cancellation pertains to a nominal value of ₹1064.27 crore.

Key Changes

  • The Government of India is cancelling a part of the non-interest bearing IDBI Special Security, 2024.
  • The total nominal value of the cancelled securities amounts to ₹1064.27 crore.
  • The effective date of cancellation is March 31, 2022.
  • The notification is issued by the Ministry of Finance (Department of Economic Affairs), Budget Division.

Impact Analysis

IDBI Bank

  • IDBI Bank should coordinate with the government to ensure proper accounting treatment of the cancellation.

Government of India

  • The government should assess the impact of this cancellation on its overall debt portfolio.

Investors/Holders of the Security

  • No direct impact on investors as it appears to be a transaction between Government and IDBI.

Accounting and Regulatory Bodies

  • Review and update internal policies and procedures to reflect the impact of the cancellation.

Key Entities Referenced

Government of India: Issuer of the IDBI Special Security, 2024 and the entity cancelling the security. IDBI Special Security, 2024: A non-interest bearing security issued by the Government of India. Ministry of Finance (Department of Economic Affairs): The government ministry responsible for issuing the notification regarding the cancellation.
Official Source Record View Original Source →
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रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-19072023-247463 xxxGIDHxxx CG-DL-E-19072023-247463 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 177] नई ददल्ली, बुधिार, जुलाई 19, 2023/आषाढ़ 28, 1945 No. 177] NEW DELHI, WEDNESDAY, JULY 19, 2023/ASHADHA 28, 1945 जित्त मत्रं ालय (आर्थथक काय यजिभाग) (बजट प्रभाग) अजधसचू ना नई ददल् ली, 19 जुलाई, 2023 जिषय : भारत सरकार की आईडीबीआई जििषे प्रजतभजू त, 2024 के गरै - ब्य ाजधारी बकाया स्ट्ट ॉक के एक भाग क रद्द करना फा. स.ं 4(4)-बी(डब्ल् य एू डं एम)/2018.—भारत सरकार एतद्वारा कुल एक हजार चौंसठ कर ड़ और सत् ताईस लाख रुपय े (₹1064.27 कर ड़) (न जमनल) मल्ू य की आईडीबीआई जििेष प्रजतभूजत, 2024 (एतद्पश् चात संषेपेप म ‘’जििेष प्रजतभूजत’’ कहा जाएगा) के गरै - ब् याजधारी स्ट् टॉक का रद्दीकरण अजधसूजचत करती ह।ै 2. रद्दीकरण की तारीख भारत सरकार द्वारा जििेष प्रजतभूजत क रद्द करन े की तारीख 31 माचय, 2022 ह गी। भारत के राष्‍टर पजत के आदेि द्वारा, आिीष िच्छानी, अपर सजचि 4661 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] MINISTRY OF FINANCE (Department of Economic Affairs) (BUDGET DIVISION) NOTIFICATION New Delhi, the 19th July, 2023 Subject : Cancellation of a part of outstanding stock of Non-interest bearing Government of India IDBI Special Security, 2024. F. No. 4(4)-B(W&M)/2018.—Government of India, hereby notifies cancellation of Non-interest bearing Government of India IDBI Special Security, 2024 (hereinafter briefly described as “the Special Security”) for an aggregate amount of Rupees one thousand sixty four crore and twenty seven lakhs only (₹1064.27 crore) [nominal]. 2. Date of Cancellation The date of cancellation of the Special Security by the Government of India shall be the March 31, 2022. By Order of the President of India, ASHISH VACHHANI, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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