**Executive Summary**
This document from the Government of Tamil Nadu, dated March 21, 2025, announces the sale of Tamil Nadu Government Stock (Securities) through auctions conducted by the Reserve Bank of India (RBI). The purpose is to finance part of capital expenditure for plan schemes and other development schemes. The auctions are scheduled for March 25, 2025, with payment by successful bidders due on March 26, 2025.
**Key Points / Main Content**
* **Loan Details**
* The Government is selling Tamil Nadu Government Stock (Securities) in multiple tranches.
* Rs. 1000 crore aggregate amount, 03-years 06 Months tenure securities auction notification [No. II(1)/FIN/7(e-1)/2025]. Repayment date is September 26, 2028.
* Rs. 1000 crore aggregate amount, 04-years 06 Months tenure securities auction notification [No. II(1)/FIN/7(e-2)/2025]. Repayment date is September 26, 2029.
* Rs. 1000 crore aggregate amount, 06-years tenure securities auction notification [No. II(1)/FIN/7(e-3)/2025]. Repayment date is March 26, 2031.
* Rs. 2000 crore aggregate amount, 10-years tenure securities auction notification [No. II(1)/FIN/7(e-4)/2025]. Repayment date is March 26, 2035.
* Rs. 1000 crore aggregate amount, Reissue of 7.14% TNSDL 2026 notification [No. II(1)/FIN/7(e-5)/2025]. Repayment date is October 13, 2026.
* **Auction Process**
* The sale will be conducted by the Reserve Bank of India, Mumbai Office (PDO).
* Bids must be submitted electronically via the Reserve Bank of India Core Banking Solution (E-Kuber) System on March 25, 2025.
* Competitive bids: 10:30 AM to 11:30 AM.
* Non-competitive bids: 10:30 AM to 11:00 AM.
* The coupon rate will be determined by the RBI at a yield-based auction under multiple price formats.
* The auction results will be displayed on the Reserve Bank of India's website on the same day.
* **Bidding and Allotment**
* Up to 10% of the notified amount is reserved for non-competitive bidders.
* A maximum limit of 1% of the notified amount applies for a single bid under the Non-competitive Bidding Facility.
* **Payment and Interest**
* Payment by successful bidders is due on March 26, 2025, before the close of banking hours.
* Payments can be made via cash, banker's cheque/pay order, demand draft, or cheque.
* Interest will be paid semi-annually on September 26 and March 26.
* **Regulatory Compliance**
* The investment in Government Stock is eligible for Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949.
* Central Government consent has been obtained as required by Article 293(3) of the Constitution of India.
**Impact Analysis**
**Banks**
*Impact:* Banks can invest in these government stocks to meet their Statutory Liquidity Ratio (SLR) requirements. The stock qualifies for the ready forward facility.
*Action Required:* Banks need to participate in the auction process on March 25, 2025, to acquire these securities.
**Eligible Individuals and Institutions (Non-Competitive Bidders)**
*Impact:* These entities have the opportunity to invest in government securities with a portion of the notified amount reserved for them.
*Action Required:* Submit non-competitive bids through the E-Kuber system between 10:30 AM and 11:00 AM on March 25, 2025, adhering to the maximum bid limit.
**Reserve Bank of India (RBI)**
*Impact:* RBI is responsible for conducting the auction and determining the coupon rate.
*Action Required:* Conduct the auction on March 25, 2025, announce the results on the same day, and receive payments from successful bidders on March 26, 2025.
**Government of Tamil Nadu**
*Impact:* The government raises funds to finance capital expenditures for plan schemes and development projects.
*Action Required:* Monitor the auction process and allocate funds raised to designated projects.
Key Entities Referenced
Tamil Nadu Government Stock (Securities) : The primary financial instrument being issued and governed by the notifications.
Reserve Bank of India : Conducts the auctions for the Tamil Nadu Government Stock and determines coupon rates.
General Notification No.644(L)/W&M-II/2023 : Referenced document providing the overall terms and conditions governing the stock issuance.
Finance Department : The Secretariat Department of the Tamil Nadu Government issuing the notifications.
Chennai : Location relevant as payment can be made at Reserve Bank of India in Chennai.
See Full Document Text
© [Regd. No. TN/CCN/467/2012-14.
GOVERNMENT OF TAMIL NADU [R. Dis. No. 197/2009.
2025 [Price: Rs.3.20 Paise.
TAMIL NADU
GOVERNMENT GAZETTE
EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 129] CHENNAI, FRIDAY, MARCH 21, 2025
Panguni 7, 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 21, 2025.
The following Notification is published:—
NOTIFICATION
[No.797(L)/W&M-II/2025]
No. II(1)/FIN/7(e-1)/2025.
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
03-years 06 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.
(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(129) [ 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 25, 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 25, 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 26, 2025.
Method of Payment:
6. Successful bidders will make payments on March 26, 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 03 years and 06 Months tenure. The tenure of the stock will commence on
March 26, 2025.
Date of Repayment:
8. The loan will be repaid at par on September 26, 2028.
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 26 and March 26.
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.
NOTIFICATION
[No.798(L)/W&M-II/2025]
No. II(1)/FIN/7(e-2)/2025.
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
04-years 06 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.
(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.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 3
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 25, 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 25, 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 26, 2025.
Method of Payment:
6. Successful bidders will make payments on March 26, 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 04 years and 06 Months tenure. The tenure of the stock will commence on
March 26, 2025.
Date of Repayment:
8. The loan will be repaid at par on September 26, 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 26 and March 26.
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.
NOTIFICATION
[No.799(L)/W&M-II/2025]
No. II(1)/FIN/7(e-3)/2025.
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
06-years 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.4 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
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 25, 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 25, 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 26, 2025.
Method of Payment:
6. Successful bidders will make payments on March 26, 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 06 years tenure. The tenure of the stock will commence on March 26, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 26, 2031.
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 26 and March 26.
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.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 5
NOTIFICATION
[No.800(L)/W&M-II/2025]
No. II(1)/FIN/7(e-4)/2025.
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
10-years 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.
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 25, 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 25, 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 26, 2025.
Method of Payment:
6. Successful bidders will make payments on March 26, 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 years tenure. The tenure of the stock will commence on March 26, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 26, 2035.6 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
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 26 and March 26.
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.
NOTIFICATION
[No.801(L)/W&M-II/2025]
No. II(1)/FIN/7(e-5)/2025.
Government of Tamil Nadu hereby notifies the Reissue of 7.14% TNSDL 2026 issued on
October 13, 2016 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 Price 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 25, 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 25, 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 26, 2025.
Method of Payment:
6. Successful bidders will make payments on March 26, 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.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 7
Tenure:
7. The Stock will be of 10-year tenure. The tenure of the stock will commence on October 13, 2016.
Date of Repayment:
8. The loan will be repaid at par on October 13, 2026.
Rate of Interest:
9. Interest at the rate of 7.14% per annum will accrue on the nominal value of the stock from the date
of original issue date and will be paid half yearly on April 13 and October 13.
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