Home India Ministry of Finance Government of India hereby notifies further premature redemp...
Date: 2016-04-01 Category: Extra Ordinary State: Union Government Country: India

Government of India hereby notifies further premature redemption on Noninterest bearing Government of India IDBI

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

This notification, issued by the Ministry of Finance, Department of Economic Affairs, Budget Division on March 31, 2016, announces the premature redemption of a portion of the outstanding stock of the Non-interest bearing Government of India IDBI Special Security, 2024. The redemption is for an aggregate amount of Rupees one hundred crore (₹100 crore) nominal, exercised via a call option at par as per Notification F.No.4(16)WM/2004 dated September 29, 2004, para 5(ii). The date of this premature redemption is March 31, 2016, the date of the notification. Following this redemption, the outstanding stock of the Special Security will be Rupees four thousand four hundred eighty-six crore (₹4,486 crore) nominal. This order is issued by order of the President of India.

Key Entities Referenced

Government of India IDBI Special Security, 2024: A special security issued by the Government of India, maturing in 2024, and related to the Industrial Development Bank of India (IDBI). Ministry of Finance: The government ministry responsible for economic affairs and budget. Department of Economic Affairs: A department within the Ministry of Finance. Budget Division: A division within the Department of Economic Affairs, responsible for the budget. New Delhi: The location where the notification was issued. New Delhi, Delhi. PRASHANT GOYAL: Joint Secretary who signed the order on behalf of the President of India. September 29, 2004: Date of the original notification (F.No.4 16WM2004) regarding the IDBI Special Security. March 31, 2016: The date of the notification and the date of premature redemption of a part of the outstanding stock.
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