**Executive Summary**
This document from the Government of Tamil Nadu's Finance Department announces the sale of Tamil Nadu Government Stock (securities) through auctions conducted by the Reserve Bank of India. The securities have varying tenures and aggregate amounts. The auction is scheduled for March 18, 2025, with payment due on March 19, 2025.
**Key Points / Main Content**
* **Purpose of Loan:**
* To finance part of capital expenditure of plan and development schemes.
* Central Government consent has been obtained for the loan floatation.
* **Method of Issue:**
* The government stock will be sold through auctions conducted by the Reserve Bank of India, Mumbai Office (PDO).
* The auction will be yield-based with a coupon rate determined by the Reserve Bank of India.
* **Auction Details:**
* The auction will take place on March 18, 2025.
* Bids must be submitted electronically via the Reserve Bank of India's 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 auction results will be displayed on the Reserve Bank of India website on the same day.
* **Payment:**
* Successful bidders must make payments by March 19, 2025, before the close of banking hours.
* Payments can be made via cash, banker's cheque/pay order, demand draft, or cheque drawn on the bidder's account with the Reserve Bank of India.
* **Stock Details (Multiple tranches):**
* A total of 5 tranches of Government Stock will be sold:
* Rs. 1000 crore of 3-year 6-month tenure, repayable on September 19, 2028.
* Rs. 1000 crore of 4-year 6-month tenure, repayable on September 19, 2029.
* Rs. 1000 crore of 5-year tenure, repayable on March 19, 2030.
* Rs. 2000 crore of 8-year tenure, repayable on March 19, 2033.
* Rs. 1000 crore of 20-year tenure, repayable on March 19, 2045.
* Rs. 1000 crore of 30-year tenure, repayable on March 19, 2055.
* The tenure of the stock will commence on March 19, 2025.
* **Interest:**
* Interest will be paid semi-annually on September 19 and March 19.
* **Eligibility of Securities:**
* Investments in Government Stock will be considered eligible for banks' Statutory Liquidity Ratio (SLR).
**Impact Analysis**
**Stakeholder: Government of Tamil Nadu**
* **Impact:** Secures funding for capital expenditures related to plan and development schemes.
* **Action Required:** Manage the auction process, ensure compliance with the General Notification, and utilize the funds effectively for intended projects.
**Stakeholder: Reserve Bank of India**
* **Impact:** Responsible for conducting the auction process.
* **Action Required:** Conduct the auction on March 18, 2025, according to the specified procedures, and determine the coupon rate.
**Stakeholder: Banks and Financial Institutions**
* **Impact:** Opportunity to invest in Government Securities and meet SLR requirements.
* **Action Required:** Participate in the auction by submitting bids through the E-Kuber system, make payments if successful, and manage the acquired securities as part of their investment portfolio.
**Stakeholder: Eligible Individuals and Institutions**
* **Impact:** Opportunity to invest in Government Securities with a portion of the notified amount reserved for non-competitive bidders.
* **Action Required:** Participate in the auction by submitting bids through the E-Kuber system, adhering to the maximum bid limits for non-competitive bids, and make payments if successful.
Key Entities Referenced
Tamil Nadu Government Stock : Securities being sold by the Government of Tamil Nadu to finance capital expenditure.
Reserve Bank of India : Conducts the auction for Tamil Nadu Government Stock sales.
General Notification No.644(L)/W&M-II/2023 : Referenced notification providing the general terms and conditions of the stock sale.
Statutory Liquidity Ratio (SLR) : Investment in Government Stock is eligible for SLR under Section 24 of the Banking Regulation Act, 1949.
Chennai : Location of Finance Department and possible location for payment of successful bids.
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. 118] CHENNAI, THURSDAY, MARCH 13, 2025
Maasi 29, 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 13, 2025.
No. II(1)/FIN/7(d-1)/2025.
The following Notification is published:—
NOTIFICATION
[No.791(L)/W&M-II/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(118) [ 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 18, 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 18, 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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on September 19, 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 19 and March 19.
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(d-2)/2025.
The following Notification is published:—
NOTIFICATION
[No.792(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
4-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.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 3
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 18, 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 18, 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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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 06 Months tenure. The tenure of the stock will commence on
March 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on September 19, 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 19 and March 19.
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(d-3)/2025.
The following Notification is published:—
NOTIFICATION
[No.793(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
5-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.
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 18, 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 18, 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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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-year tenure. The tenure of the stock will commence on March 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 19, 2030TAMIL 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 19 and March 19.
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(d-4)/2025.
The following Notification is published:—
NOTIFICATION
[No.794(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
8-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 18, 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 18, 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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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 8-year tenure. The tenure of the stock will commence on March 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 19, 2033.
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 19 and March 19.
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(d-5)/2025.
The following Notification is published:—
NOTIFICATION
[No.795(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
20-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.
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 18, 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 18, 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.TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY 7
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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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 20-year tenure. The tenure of the stock will commence on March 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 19, 2045.
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 19 and March 19.
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(d-6)/2025.
The following Notification is published:—
NOTIFICATION
[No.796(L)/W&M-II/2025]
Government of Tamil Nadu hereby notifies the sale of Tamil Nadu Government Stock (Securities) of
30-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.
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 18, 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 18, 2025.8 TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY
(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 19, 2025.
Method of Payment:
6. Successful bidders will make payments on March 19, 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 30-year tenure. The tenure of the stock will commence on March 19, 2025.
Date of Repayment:
8. The loan will be repaid at par on March 19, 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 19 and March 19.
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