**Executive Summary**
The document is a notification from the Government of Tamil Nadu announcing the sale of Tamil Nadu Government Stock (Securities) through auctions. These auctions, conducted by the Reserve Bank of India on March 11, 2025, aim to finance capital expenditure of Plan Schemes and other Development Schemes. Payments from successful bidders are due on March 12, 2025.
**Key Points / Main Content**
* **Loan Details:**
* The Government of Tamil Nadu is selling Tamil Nadu Government Stock (Securities).
* The loans aim to finance part of capital expenditure for Plan Schemes and other Development Schemes.
* Consent from the Central Government has been obtained as required by Article 293(3) of the Constitution of India.
* **Auction Specifics:**
* **Auction Date:** March 11, 2025.
* **Auction Location:** Reserve Bank of India, Mumbai Office (PDO), Fort, Mumbai-400 001.
* **Submission:** Bids to be submitted electronically via the Reserve Bank of India Core Banking Solution (E-Kuber) System.
* Competitive bids: 10.30 A.M. to 11.30 A.M.
* Non-competitive bids: 10.30 A.M. to 11.00 A.M.
* The Reserve Bank of India will determine the coupon rate at a yield-based auction.
* **Allotment and Payment:**
* Up to 10% of the notified amount will be allotted to eligible individuals and institutions, with a maximum limit of 1% for a single bid, under the Revised Scheme for Non-competitive Bidding Facility.
* Successful bidders must make payments by March 12, 2025, before close of banking hours.
* Payment methods: cash, banker's cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai, or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.
* **Stock Details**
* The government stock will have a tenure of 4 years, 5-years 6 Months, 10 years, and 30 years, commencing on March 12, 2025.
* The loan will be repaid at par on March 12, 2029, September 12, 2030, March 12, 2035, and March 12, 2055 respectively.
* Interest will be paid on September 12 and March 12.
* **Eligibility**
* The investment in Government Stock qualifies as an eligible investment in Government Securities for banks under Section 24 of the Banking Regulation Act, 1949, for Statutory Liquidity Ratio (SLR) purposes.
* The stocks will qualify for the ready forward facility.
**Impact Analysis**
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact:** RBI is responsible for conducting the auction and determining the coupon rate.
* **Action Required:** Conduct the auction as per the specified guidelines, display the auction results on its website, and manage the payment process.
**Stakeholder: Banks and Financial Institutions**
* **Impact:** This impacts the Statutory Liquidity Ratio (SLR) compliance for banks. Banks can consider the Government Stock as eligible investment in Government Securities.
* **Action Required:** Participate in the auction and adjust their investment portfolios based on the outcome.
**Stakeholder: Investors (Individuals and Institutions)**
* **Impact:** Opportunity to invest in Government Securities with varying tenures.
* **Action Required:** Submit bids electronically via the Reserve Bank of India Core Banking Solution (E-Kuber) System within the specified timeframes. Make payments if successful.
Key Entities Referenced
Tamil Nadu Government Stock : Securities issued by the Tamil Nadu Government with varying tenures (4-year, 5-year 6-months, 10-year, and 30-year) to raise funds through auctions.
Reserve Bank of India : Conducts the auctions of Tamil Nadu Government Stock, determines the coupon rate, and facilitates payments through its Mumbai/Chennai offices.
General Notification No.644(L)/W&M-II/2023 : A referenced policy document that outlines the general terms and conditions applicable to the sale of Tamil Nadu Government Stock.
Banking Regulation Act, 1949 : Section 24 allows the stocks to be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR)
Constitution of India : Article 293(3) mandates consent of Central Government for floatation of loans.
See Full Document Text
© [Regd. No. TN/CCN/467/2012-14.
GOVERNMENT OF TAMIL NADU [R. Dis. No. 197/2009.
2025 [Price: Rs. 2.40 Paise.
TAMIL NADU
GOVERNMENT GAZETTE
EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 110] CHENNAI, THURSDAY, MARCH 6, 2025
Maasi 22, Kurothi, Thiruvalluvar Aandu-2056
Part II—Section 1
Notifications or Orders of specific character or of particular interest to the public
issued by Secretariat Departments.
NOTIFICATIONS BY GOVERNMENT
FINANCE DEPARTMENT
MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION
Secretariat, March 6, 2025.
No. II(1)/FIN/7(a-1)/2025.
The following Notification is published:—
NOTIFICATION
[No.787(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
4-year tenure for an aggregate amount of Rs.2000 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.644(L)/W&M-II/2023, dated February 22, 2023 of Government of
Tamil Nadu.
Object of the Loan:
1. (i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under
execution.
(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:
2. The Government stock will be sold through the Reserve Bank of India, Mumbai Office (PDO),
Fort, Mumbai-400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification
No.644(L)/W&M-II/2023, dated February 22, 2023 at a coupon rate to be determined by the Reserve Bank of
India at the yield-based auction under multiple price formats.
Ex-II-1(110) [ 1 ]2 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
Allotment to Non-competitive Bidders:
3. The Government 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 11, 2025. 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 11, 2025.
(a) The 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.
(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 11.00 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 12, 2025.
Method of Payment:
6. Successful bidders will make payments on March 12, 2025 before close of banking hours by means of
cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai or a cheque
drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.
Tenure:
7. The Stock will be of 4-year tenure. The tenure of the stock will commence on March 12, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 12, 2029.
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 12 and March 12.
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.
No. II(1)/FIN/7(a-2)/2025.
The following Notification is published:—
NOTIFICATION
[No.788(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
5-years 6 Months tenure for an aggregate amount of Rs.1000 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.644(L)/W&M-II/2023, dated February 22, 2023 of Government of
Tamil Nadu.
Object of the Loan:
1. (i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under
execution.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 3
(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:
2. The Government stock will be sold through the Reserve Bank of India, Mumbai Office (PDO), Fort,
Mumbai-400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification
No.644(L)/W&M-II/2023, dated February 22, 2023 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 Government 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 11, 2025. 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 11, 2025.
(a) The 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.
(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 11.00 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 12, 2025.
Method of Payment:
6. Successful bidders will make payments on March 12, 2025 before close of banking hours by means of
cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai or a cheque
drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.
Tenure:
7. The Stock will be of 5-years 6 Months tenure. The tenure of the stock will commence on
March 12, 2025.
Date of Repayment:
8. The loan will be repaid at par on September 12, 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 12 and March 12.
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.4 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
No. II(1)/FIN/7(a-3)/2025.
The following Notification is published:—
NOTIFICATION
[No.789(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of 10-year
tenure for an aggregate amount of Rs.1000 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.644(L)/W&M-II/2023, dated February 22, 2023 of Government of Tamil Nadu.
Object of the Loan:
1. (i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under
execution.
(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:
2. The Government stock will be sold through the Reserve Bank of India, Mumbai Office (PDO),
Fort, Mumbai-400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification
No.644(L)/W&M-II/2023, dated February 22, 2023 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 Government 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 11, 2025. 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 11, 2025.
(a) The 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.
(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 11.00 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 12, 2025.
Method of Payment:
6. Successful bidders will make payments on March 12, 2025 before close of banking hours by means of
cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai or a cheque
drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.
Tenure:
7. The Stock will be of 10-year tenure. The tenure of the stock will commence on March 12, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 12, 2035.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 5
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 12 and March 12.
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.
No. II(1)/FIN/7(a-4)/2025.
The following Notification is published:—
NOTIFICATION
[No.790(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of 30-year
tenure for an aggregate amount of Rs.1000 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.644(L)/W&M-II/2023, dated February 22, 2023 of Government of Tamil Nadu.
Object of the Loan:
1. (i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under
execution.
(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:
2. The Government stock will be sold through the Reserve Bank of India, Mumbai Office (PDO),
Fort, Mumbai-400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification
No.644(L)/W&M-II/2023, dated February 22, 2023 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 Government 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 11, 2025. 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 11, 2025.
(a) The 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.
(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 11.00 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 12, 2025.
Method of Payment:
6. Successful bidders will make payments on March 12, 2025 before close of banking hours by means of
cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai or a cheque
drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.6 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
Tenure:
7. The Stock will be of 30-year tenure. The tenure of the stock will commence on March 12, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 12, 2055.
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 12 and March 12.
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 Tamil Nadu)
T. UDHAYACHANDRAN,
Principal Secretary to Government of Tamil Nadu,
Finance Department.
PRINTED AND PUBLISHED BY THE COMMISSIONER OF STATIONERY AND PRINTING, CHENNAI
ON BEHALF OF THE GOVERNMENT OF TAMIL NADU