Home India Ministry of Finance Government of India hereby notifies the issue of i 613 per c...
Date: 2020-03-17 Category: Extra Ordinary State: Union Government Country: India

Government of India hereby notifies the issue of i 613 per cent

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Finance, Department of Economic Affairs, announces the issuance of six new series of non-transferable special Government of India (GoI) securities, maturing between 2030 and 2035, on March 20, 2020. The Bank of Maharashtra is the sole eligible subscriber, with the subscription amount limited as specified in the annexure. Interest will be paid semi-annually. Key Points / Main Content: Issuance of Special GoI Securities: * Six series of non-transferable special GoI securities will be issued. * Maturity dates range from March 20, 2030, to March 20, 2035. * The securities are issued on March 20, 2020. Eligibility and Subscription: * Only the Bank of Maharashtra is eligible to subscribe. * Subscription is limited to the amount specified for the Bank of Maharashtra in the annexure. * No other entity is eligible. Terms of Issuance: * The securities will be issued at par. * The date of issue is the date of receipt of the subscription amount from the Bank of Maharashtra. * The securities will be in the form of "Stock" held in the Subsidiary General Ledger Account with the Reserve Bank of India, Mumbai. Interest and Repayment: * The securities are repayable at par on their respective maturity dates. * Interest is payable semi-annually from the date of issue. * Interest rates vary from 6.13% to 6.28% depending on the security. Other Provisions: * The securities are non-transferable and non-convertible. * The Government Securities Act, 2006, and Government Securities Rules, 2007, apply to matters not covered in the notification. * Tax laws apply to the investment and interest. * Investment by the Bank of Maharashtra is not considered an eligible investment under statutory provisions. * The special securities can be held under the HTM (Held To Maturity) portfolio without any limit, as per RBI guidelines. Impact Analysis: Bank of Maharashtra: Impact: Eligible to subscribe to the special securities up to the allocated amount. Action Required: Subscribe to the securities as per the allocation in the annexure, adhering to the terms and conditions of the notification. Reserve Bank of India (RBI): Impact: Public Debt Office of RBI, Mumbai, will handle the issuance and interest payments. Action Required: Ensure proper accounting and management of the securities through the Subsidiary General Ledger Account. Government of India: Impact: Issuance of special securities as part of managing government debt. Action Required: Monitor the subscription and ensure compliance with the notification.

Key Entities Referenced

New Delhi: The city where the notification was issued. Ministry of Finance: The ministry issuing the notification. Department of Economic Affairs: The department within the Ministry of Finance responsible for the notification. Government Securities Act, 2006: The act governing the special securities, along with Government Securities Rules, 2007. Government Securities Rules, 2007: The rules governing the special securities, along with the Government Securities Act, 2006. Bank of Maharashtra: The only bank eligible to subscribe to the special securities. Reserve Bank of India, Mumbai: The location where the Subsidiary General Ledger Account is maintained and interest is payable. Rajat Kumar Mishra: Joint Secretary who signed the order on behalf of the President of India.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एल.-अ.-17032020-218725 xxxGIDExxx CG-DL-E-17032020-218725 असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 67] नई दिल्ली, ंगं लिार, ंाच ि17, 2020/फाल्ग नु 27, 1941 No. 67] NEW DELHI, TUESDAY, MARCH 17, 2020/PHALGUNA 27, 1941 जित्त ं्ं ाल (आर्थकि का िजिभाग) (बिट प्रभाग) अजधसचू ना नई दिल् ली, 17 ंाचि, 2020 (i) 6.13 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2030; (ii) 6.18 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2031; (iii) 6.18 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2032; (iv) 6.23 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2033; (v) 6.23 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2034; तथा (vi) 6.28 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2035 को िारी करना। फा. स.ं 4(16ि-बी(डब्‍ल् एू डं एं)/2019.—भारत सरकार एतिद्वारा दिनांक 20 ंाच,ि 2020, को (i) 6.13 प्रजतित (अहस्ट् तातं रणी ि जििेा भारत सरकार प्रजतभूजत, 2030; (ii) 6.18 प्रजतित (अहस्ट् तांतरणी ि जििेा भारत सरकार प्रजतभूजत, 2031; (iii) 6.18 प्रजतित (अहस्ट्त ांतरणी ि जििेा भारत सरकार प्रजतभूजत, 2032; (iv) 6.23 प्रजतित (अहस्ट् तांतरणी ि जििेा भारत सरकार प्रजतभूजत, 2033; (v) 6.23 प्रजतित (अहस्ट् तांतरणी ि जििेा भारत सरकार प्रजतभूजत, 2034; तथा (vi) 6.28 प्रजतित (अहस्ट् तांतरणी ि जििेा भारत सरकार प्रजतभूजत, 2035 (इसके पश् चात स संज्‍ त ूपप स े ‘जििेा प्रजतभूजत’ के ूपप ं ेंउजल्लजखत हिै के जनगिं को अजधसूजचत करती ह।ै 1488 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1] 1. अजभिान के जलए पा्ता और अजभिान की सींा :- (iि इसके अनबु धं ंें केिल बैंक ऑफ ंहाराष्ट्र (सरकारी ्े् का बैंक) इन जििेा प्रजतभूजत ों ंें अजभिान करन े के जलए पा् होगा तथा प्रजतभूजत ों ंें अजभिान अनुबंध ंें ििाईि गई राजि तक सीजंत रहगे ा। (iiि उप ुिक्त अनुबंध ं ें बैंक ऑफ ंहाराष्ट्र के अलािा, दकसी अन् बैंक, कंप नी, जनगं अथिा दकसी अन् जनका सजहत कोई अन् ्‍ जि इन जििेा प्रजतभूजत ों ं ेंअजभिान करने के जलए पा् नह होगा। 2. जनगंि ंल्ू एि ंतारीख:- (iि जििेा प्रजतभूजत ां पा् बकैं अथाित बैंक ऑफ ंहाराष्ट्र द्वारा दकए गए आिेिन के अनुसार, संंूल् राजि पर िारी की िाएंगी। (iiि जििेा प्रजतभूजत ों को िारी करने की तारीख पा् बैंक अथाित बैंक ऑफ ंहाराष्ट्र से अजभिान राजि की प्राजि की तारीख़ होगी । 3. प्रजतभजू त का स्ट्ि ूपप :- इन जििेा प्रजतभूजत ों को लोक ऋण का ािल , भारती ररििि बैंक, ंुंबई ंें अनुरज्त जनिेिकताि बैंक के अनाु ंगी सांान् बही खाता ं ें क्रेजडट करके ''स्ट् टॉक'' के ूपप ंें िारी दक ा िाएगा। 4. ब्‍ ाि एि ंिापसी :- जििेा प्रजतभूजत ों की िापसी अिा गी प्रत् के प्रजतभूजत के संबंध ं ें इंजगत की गई पररपक्ि ता की तारीख़ को संंल्ू पर होगी। जििेा प्रजतभूजत ों पर ब्‍ ाि अधििार्ािक अंतराल पर िे होगा, िो प्रजतभूजत िारी करने की तारीख से पररकजलत होगा। प्रजतभूजत पर ब्‍ ाि ंुंबई जस्ट्थत भारती ररििि बैंक के लोक ऋण का ािल ंें िे होगा। इन जििेा प्रजतभूजत ों पर जनम्न जलजखत िर स ेब्‍ ाि िे होगा : पररपक्ि ता क्र.स.ं प्रजतभजू त का नां ब्‍ ाि िर की तारीख़ 1 6.13 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2030 6.13 प्रजतित 20 ंाचि, 2030 2 6.18 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2031 6.18 प्रजतित 20 ंाचि, 2031 3 6.18 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2032 6.18 प्रजतित 20 ंाचि, 2032 4 6.23 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2033 6.23 प्रजतित 20 ंाचि, 2033 5 6.23 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2034 6.23 प्रजतित 20 ंाचि, 2034 6 6.28 (अहस्ट् तांतरणी ि भारत सरकार की जििेा प्रजतभूजत, 2035 6.28 प्रजतित 20 ंाचि, 2035 ब्‍ ाि का भुगतान जनकटतं पणू ि पयप े ंें पणू ाांदकत करके दक ा िाएगा। इस प्र ोिन के जलए, पचास पैसे स े कं राजि को निरअिं ाि दक ा िाएगा और पचास और उससे अजधक पैसे को अगल ेपयप े ं ें पूणाांदकत दक ा िाएगा। 5. हस्ट्त ातं रणी ता एि ंपररितनि :- जििेा प्रजतभूजत हस्ट्त ांतरणी नह होगी तथा इन प्रजतभूजत ों को दकसी भी अन् स्ट् िूपप ंें पररिर्तित करन े की अनुंजत भी नह होगी। 6. साजं िजधक प्रािधान:- िहां तक दकसी ऐस े जिा का संबंध ह,ै जिसका इस अजधसूचना के तहत प्रािधान नह दक ा ग ा ह,ै जििेा प्रजतभूजत ां सरकारी प्रजतभूजत अजधजन ं, 2006 तथा उसके तहत बनाए गए सरकारी प्रजतभूजत जन ं, 2007 द्वारा अजभिाजसत की िाएगं ी। 7. कर काननू ों की प्र ोज् ता:- जििेा प्रजतभूजत ं ें जनिेजित राजि तथा उस पर िे ब्‍ ाि को सं -सं पर था प्र ोज् कर काननू ों के उपबंधों द्वारा अजभिाजसत होगी।[भाग I—खण् ड 1] भारत का रािप् : असाधारण 3 8.जििाे प्रजतभजू त ं ेंजनििे की पा्ता :- बैंक ऑफ ंहाराष्ट्र द्वारा जििेा प्रजतभूजत ों ंें जनिेि एक ोग् जनिेि नह ंाना िाएगा जिसका जनिेि बैंक ऑफ ंहाराष्ट्र को जनिेि करने िाले बैंक अथाित बैंक ऑफ ंहाराष्ट्र पर लागू दकसी सांजिजधक उपबंधों अथिा जनिेिों के अनुसरण ं ेंसरकारी प्रजतभूजत ों ंें करना आिश् क ह।ै 9. एचटीएं प्रजस्ट्थजत :- बैंकों द्वारा जनिेि पोटिफोजल ो के िगीकरण, ंूल् न तथा प्रचालन संबंधी जििेकपूणि ंानिंडों के संबंध ंें भारती ररििि बैंक के दिनांक 01 िलु ाई, 2015 के पररप् डीबीआर संख् ा बीपी. बीसी. 6/21.04.141/2015-16 के अनुसार, जििेा प्रजतभूजत ां जबना दकसी सींा के एचटीएं पोटिफोजल ो के तहत धाररत की िा सकती ह।ैं अनबु धं (सिं भ िफा. स.ं 4(16ि-बी(डब्‍ल् एू डं एं)/2019 दिनाकं 17 ंाच,ि 2020ि साििि जनक ््े के बकैं का नां और प्रजतभजू त ों का आबटं न (i) 6.13 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2030; (ii) 6.18 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2031; (iii) 6.18 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2032; (iv) 6.23 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2033; (v) 6.23 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2034; तथा (vi) 6.28 प्रजतित (अहस्ट्त ातं रणी ि जििाे भारत सरकार प्रजतभजू त, 2035 । क्रं सख्ं ा बैंक का नां पररपक्ि ता िा ि (₹ करोड़) 2030 2031 2032 2033 2034 2035 आबरं टत राजि 1. बैंक ऑफ ंहाराष्ट्र 141 138 138 138 138 138 831 कुल 141 138 138 138 138 138 831 भारत के राष्‍टर पजत के आिेिानसु ार, रित कुंार जंश्र, सं ुक् त सजचि MINISTRY OF FINANCE (Department of Economic Affairs) (BUDGET DIVISION) NOTIFICATION New Delhi, the 17th March, 2020 Issue of (i) 6.13 per cent (Non-transferable) Special Gol Security, 2030; (ii) 6.18 per cent (Non-transferable) Special Gol Security 2031; (iii) 6.18 per cent (Non-transferable) Special Gol Security 2032; (iv) 6.23 per cent (Non-transferable) Special Gol Security 2033; (v) 6.23 per cent (Non-transferable) Special Gol Security 2034; and (vi) 6.28 per cent (Non-transferable) Special GoI Security 2035. F. No. 4(16)-B(W&M)/2019.—Government of India hereby notifies the issue of (i) 6.13 per cent (Non-transferable) Special Gol Security, 2030; (ii) 6.18 per cent (Non- transferable) Special Gol Security 2031; (iii) 6.18 per cent (Non-transferable) Special Gol Security 2032; (iv) 6.23 per cent (Non-transferable) Special Gol Security 2033; (v) 6.23 per cent (Non-transferable) Special Gol Security 2034; and (vi) 6.28 per cent (Non- transferable) Special GoI Security 2035, (hereinafter briefly described as the “Special securities”) on March 20, 2020. 1. Eligibility for Subscription and Limit of Subscription: (i) The Bank of Maharashtra as referred to in the Annexure hereto shall only be eligible to subscribe to the special securities and the subscription to the securities shall be limited to the extent of the amount, as shown against Bank of Maharashtra in the Annexure.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. 1] (ii) No other person, including any bank, company, corporation or any other body except the Bank of Maharashtra as referred to in aforesaid Annexure shall be eligible to subscribe to the special securities. 2. Price and Date of Issue: (i) The special securities will be issued at par for the amount as per the application made by the eligible bank i.e. Bank of Maharashtra. (ii) The date of issue of the special securities will be the date of receipt of subscription amount from the eligible bank i. e. Bank of Maharashtra. 3. Form of Security: The special securities will be issued in the form of "Stock" to be held at credit of the investing bank's Subsidiary General Ledger Account maintained with Public Debt Office, Reserve Bank of India, Mumbai. 4. Interest and Repayment: The special securities shall be repayable at par on the date of maturity as indicated against each security. Interest on the special securities will be payable at half yearly intervals, reckoned from the date of issue of the securities. Interest on the securities will be payable at Public Debt Office of Reserve Bank of India at Mumbai. The following rate of interest will be payable on these securities: S. No. Nomenclature of the Securities Rate of Interest Date of maturity 1. 6.13 (Non-Transferrable) Special Gol Security 2030 6.13 per cent March 20, 2030 2. 6.18 (Non-Transferrable) Special Gol Security 2031 6.18 per cent March 20, 2031 3. 6.18 (Non-Transferrable) Special GoI Security 2032 6.18 per cent March 20, 2032 4. 6.23 (Non-Transferrable) Special GoI Security 2033 6.23 per cent March 20, 2033 5. 6.23 (Non-Transferrable) Special Gol Security 2034 6.23 per cent March 20, 2034 6. 6.28 (Non-Transferrable) Special Gol Security 2035 6.28 per cent March 20, 2035 Interest will be paid after rounding off to the nearest whole rupee. For this purpose, amount of interest less than fifty paise will be ignored and fifty paise and more will be rounded off to the next rupee. 5. Transferability and Conversion: The special securities shall not be transferable and conversion in any other form of security shall not be permitted. 6. Statutory Provisions: With respect to any such matter which has not been provided under this Notification, the special securities shall be governed by the Government Securities Act, 2006 and the Government Securities Rules, 2007 framed there under. 7. Applicability of Tax Laws: The value of the investment in the special security and the interest payable thereon will be governed by the provisions of tax laws as applicable from time to time. 8. Eligibility of Investment in Special Securities: The investment in the special securities by the Bank of Maharashtra would not be considered as an eligible investment which Bank of Maharashtra is required to make in Government securities in pursuance of any statutory provisions or directions applicable to the investing bank i.e. Bank of Maharashtra.[भाग I—खण् ड 1] भारत का रािप् : असाधारण 5 9. HTM Status: As per RBI Circular DBR No BP.BC.6/21.04.141/2015-16 July 1, 2015 on Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks, the special securities can be held under HTM portfolio without any limit. Annexure (Ref. F. No. 4(16)-B(W&M)/2019 dated March 17, 2020) Name of Public Sector Bank and Allocation of Securities (i) 6.13 per cent (Non- transferable) Special Gol Security, 2030; (ii) 6.18 per cent (Non-transferable) Special Gol Security 2031; (iii) 6.18 per cent (Non-transferable) Special Gol Security 2032; (iv) 6.23 per cent (Non-transferable) Special Gol Security 2033; (v) 6.23 per cent (Non- transferable) Special Gol Security 2034; and (vi) 6.28 per cent (Non- transferable) Special GoI Security 2035. Maturing in Year (` crore) S. Name of the Bank 2030 2031 2032 2033 2034 2035 Amount No. Allocated 1 Bank of Maharashtra 141 138 138 138 138 138 831 Total 141 138 138 138 138 138 831 By Order of the President of India, RAJAT KUMAR MISHRA, Jt. 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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