Home India Ministry of Finance Investment against next collection 2023 24...
Date: 03-Oct-2023 Category: Extra Ordinary State: Union Government Country: India

Investment against next collection 2023 24

Issued by Ministry of Finance · Department of Economic Affairs

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Executive Summary & Key Takeaways

Key Changes

  • Conversion of the securities to any other form is not permitted unless specified by the Government.
  • The Central Government specifies the issuance of 7.60% Government of India NSSF (C) (Non-trans) Special Securities, 2033-34.
  • The securities will be issued in financial year 2023-24.
  • The securities are non-transferable.
  • The objective is to issue special securities against receipts from the National Small Savings Fund (NSSF).
  • The Secretary, Department of Economic Affairs, Ministry of Finance, is eligible to subscribe to these securities for amounts invested by NSSF.
  • Securities will be issued in multiples of ₹1,00,000.
  • The tenure of the securities is 10 years from the date of issue.
  • Interest rate is 7.60% per annum, payable semi-annually.
  • The Government of India will exercise a 'call option' to redeem the securities in ten equal installments starting from the next year of the issue date.

What it means

  • The gazette notification announces the issuance of 7.60% Government of India National Small Savings Fund (NSSF) (C) (Non-transferable) Special Securities, 2033-34.
  • These special securities are being issued against the amounts received by the government from the National Small Savings Fund (NSSF) from time to time.
  • The securities will be in the form of 'Stock' held in the Subsidiary General Ledger Account maintained by the Public Debt Office, Reserve Bank of India, Nagpur.

Impact Analysis

Impact on Government

  • The issuance contributes to the government's overall borrowing program.

Impact on National Small Savings Fund (NSSF)

  • The non-transferable nature ensures a stable investment portfolio for the NSSF.

Suggested Action Items

  • Relevant departments to take note of the call option clause for repayment planning.

Key Entities Referenced

Central Government: The issuer of the special securities. National Small Savings Fund (NSSF): The fund from which the government is borrowing. Public Debt Office, Reserve Bank of India, Nagpur: The office responsible for maintaining the Subsidiary General Ledger Account and issuing the securities. Government Securities Act, 2006: The governing law for these special securities.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-03102023-249123 xxxGIDHxxx CG-DL-E-03102023-249123 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 262] नई दिल्ली, मगं लिार, अक्त बू र 3, 2023/आज‍ि न 11 , 1945 No. 262] NEW DELHI, TUESDAY, OCTOBER 3, 2023/ASVINA 11, 1945 जित्त मत्रं ालय (आर्थकि काय िजिभाग) अजधसचू ना नई दिल्ली, 29 जसतम् बर, 2023 स.ं 5/1/2023-एनएस.—केंद्रीय सरकार, सरकारी प्रजतभूजत अजधजनयम, 2006 (2006 का 38) की धारा 2 के खंड (च) द्वारा प्रित् त िजियों का प्रयोग करते हुए एतद्द्वारा यह जिजनर्िष्ि ट करती ह ैदक (i) 7.60% (सात ििमलि छ: िून्य प्रजतित) भारत सरकार एनएसएसएफ (सी) (राष् रीय लघ ु बचत जनजध) (अहस्ट् तांतरणीय) जििेष प्रजतभूजत, 2033-34 लोक ॠण कायािलय द्वारा जित्त िषि 2023-24 में रखे गए अनुषंगी सामान्य बही खाते में धारक के नाम से रखे िाने िाले ‘स्ट् टॉक’ के रूप में िारी की िाएगी; और (ii) ये प्रजतभूजतयां हस्ट् तांतरणीय नहीं होंगी। आिीष िच्छानी, अपर सजचि 6273 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 29th September, 2023 No. 5/1/2023-NS.—In exercise of the powers conferred by clause (f) of Section 2 of the Government Securities Act, 2006 (38 of 2006), the Central Government hereby specifies that (i) 7.60% (Seven point six percent) Government of India NSSF (C) (Non-trans) Special Securities, 2033-34 shall be issued in FY 2023-24 in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General Ledger Account maintained by the Public Debt Office; and (ii) These securities shall not be transferable. ASHISH VACHHANI, Addl. Secy. अजधसचू ना नई दिल्ली, 29 जसतम् बर, 2023 7.60% भारत सरकार (राष्र ीय लघ ुबचत जनजध) (सी) (अहस्ट्त ातं रणीय) जििषे प्रजतभजू त, 2033-34 का जनगमि स.ं 5/1/2023-एनएस. - भारत सरकार, एतद्द्वारा 7.60 प्रजतित भारत सरकार राष्र ीय लघु बचत जनजध (सी) (अहस्ट्त ातं रणीय) जििेष प्रजतभजू तयां, 2033-34 (इसमें इसके पश्चात इस े “जििेष प्रजतभूजत” कहा गया ह)ै का जनगिम अजधसूजचत करती ह।ै 2. उद्दे‍य: भारत के लोक लेख े म ें‘’राष्ट्रीय लघ ु बचत जनजध’’ (एनएसएसएफ) नामक नई जनजध के सृिन के पररणामस्ट्िरूप समय-समय पर सरकार द्वारा राष्ट्रीय लघु बचत जनजध से प्राप्त राजि के जलए केंद्रीय सरकार इसके अतं गति अजधसूजचत जििेष प्रजतभूजतया ं िारी करेगी। 3. जििषे प्रजतभजू तयों म ेंअजभिान के जलए पात्रता: सजचि, भारत सरकार, जित् त मंत्रालय, आर्थिक कायि जिभाग, समय-समय पर केंद्रीय सरकार द्वारा यथाजिजनर्िष्टि एनएसएसएफ द्वारा जनिेि की राजि के जलए जििेष प्रजतभूजतयों में अजभिान करन े के जलए पात्र होंगे। 4. अजभिान: जििेष प्रजतभूजतया ं ₹1,00,000 (अंदकत मल्ू य) की राजि के जलए और इसके बाि ₹1,00,000 के गुणकों म ें िारी की िाएंगी। 5. प्रजतभजू तयों का स्ट्िरूप: जििेष प्रजतभूजतया,ं लोक ॠण कायािलय, भारतीय ररििि बैंक, नागपुर में रखे गए अनषु ंगी सामान्य बही खाते म ें धारक के नाम रखे िान े िाल े ‘स्ट् टॉक’ के रूप म ेंिारी की िाएगं ी। 6. जनगमि का मल्ू य , तारीख और स्ट्थ ान: (i) जििेष प्रजतभूजतयां सममूल् य पर िारी की िाएंगी।[भाग I—खण् ड 1] भारत का रािपत्र : असाधारण 3 (ii) जििेष प्रजतभूजतयां िारी करन े की तारीख भारत सरकार के सहायक सामान्य बही खाते में जििेष प्रजतभूजतयों के िमा होने की तारीख होगी। (iii) जििेष प्रजतभूजतयां, लोक ॠण कायािलय, भारतीय ररििि बैंक, नागपुर म ेंिारी की िाएगं ी। 7. अिजध: जििेष प्रजतभूजतयों की अिजध जनगिम की तारीख स े 10 िष ि होगी। 8. ब्य ाि (i) जििेष प्रजतभूजतयों पर 7.60% (सात ििमलि छ: िून्य प्रजतित) प्रजत िषि ब् याि लगेगा िो जििेष प्रजतभूजतयों के जनगिम की तारीख से िरूु करके अध-ि िार्षिक आधार पर िेय होगा। प्रजतभूजतयों पर ब् याि लोक ण कायािलय (अथाित जनगिम कायािलय), भारतीय ररििि बैंक, नागपुर में िेय होगा। (ii) ब् याि जनकटतम सर पएपए के पणू ानकन के बाि संिेय होगा। 9. चकु रती: भारत सरकार जििेष प्रजतभूजतयों की चुकरती जनगिम की तारीख के अगले िषि स े प्रारंभ करके िस बराबर दकस्ट्तों में करन े हते ु ‘कॉल ऑप्िन’ का प्रयोग करेगी। 10. हस्ट्तातं रणीयता और सपं ररितनि जििेष प्रजतभूजतया ं हस्ट्तांतरणीय नहीं होंगी और िब तक सरकार द्वारा अन्यथा जिजनर्िष्ि ट न दकया िाए, तब तक दकसी अन् य रूप में इनके संपररितिन की अनुमजत नहीं होगी। 11. साजं िजधक उपबधं : ऐसे दकसी मामले के संबंध म,ें जिसका इस अजधसूचना म ें उल्लखे नहीं दकया गया ह,ै जििेष प्रजतभूजतयां,सरकारी प्रजतभूजत अजधजनयम, 2006 (2006 का 38) द्वारा अजभिाजसत होंगी। आिीष िच्छानी, अपर सजचि NOTIFICATION New Delhi, the 29th September, 2023 Issue of 7.60% Government of India NSSF (C) (Non-trans) Special Securities, 2033-34 No. 5/1/2023-NS.—The Government of India, hereby notifies the issue of 7.60 per cent Government of India NSSF (C) (Non-trans) Special Securities, 2033-34 (hereinafter called “special securities"). 2. Objective: Consequent upon the creation of a new fund in the Public Account of India called the "National Small Savings Fund" (NSSF), the Central Government shall issue the Special Securities notified hereunder against the amounts received by the Government from NSSF from time to time. 3. Eligibility for subscribing to special securities: The Secretary, Government of India, Ministry of Finance, Department of Economic Affairs, shall be eligible to subscribe to special securities for the amounts invested by NSSF as specified by the Central Government from time to time. 4. Subscription: Special securities will be issued for an amount of ₹1,00,000 (face value) and in multiples of ₹1,00,000 thereafter.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] 5. Form of securities: The special securities will be issued in the form of 'Stock' to be held at the credit of the holder in the Subsidiary General Ledger Account maintained with Public Debt Office, Reserve Bank of India, Nagpur. 6. Price, Date and Place of Issue: (i) The special securities will be issued at par. (ii) The date of issue of special securities shall be date of credit of special securities to Subsidiary General Ledger Account of NSSF. (iii) The Special Securities will be issued at Public Debt Office, Reserve Bank of India, Nagpur. 7. Tenure: The tenure of the special securities will be 10 years from the date of issue. 8. Interest: (i) The special securities shall bear the interest at the rate of 7.60% (Seven point six per cent.) per annum which will be payable at half yearly basis reckoned from the date of issue of the special securities. Interest on the securities will be payable at the Public Debt Office (i.e. the office of Issue), Reserve Bank of India, Nagpur. (ii) Interest will be paid after rounding off to nearest hundred rupees. 9. Repayment: The Government of India shall exercise the ‘call option’ to redeem the special securities in ten equal instalments starting from the next year from the date of the issue 10. Transferability and conversion: The Special Securities shall not be transferable and conversion of the securities to any other form shall not be permitted, until and unless otherwise specified by the Government. 11. 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 (38 of 2006). 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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