Home India Ministry of Finance Special Securities...
Date: 05-Jan-2023 Category: Extra Ordinary State: Union Government Country: India

Special Securities

Issued by Ministry of Finance · Department of Economic Affairs

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The gazette notification specifies the issuance of 7.30% Government of India NSSF (C) (Non-trans) Special Securities, 2032-33.
  • These securities are being issued against amounts received by the government from the National Small Savings Fund (NSSF).
  • 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.
  • The securities are non-transferable.

Key Changes

  • The Central Government will issue 7.30% Government of India NSSF (C) (Non-trans) Special Securities, 2032-33 in FY 2022-23.
  • The securities will be issued at par (₹1,00,000 face value and multiples thereof).
  • The tenure of the securities is 10 years from the date of issue.
  • Interest will be paid at a rate of 7.30% 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 from the date of issue.
  • The securities are non-transferable and cannot be converted to any other form unless specified by the Government.

Impact Analysis

National Small Savings Fund (NSSF)

  • Action Item: NSSF needs to subscribe to these securities as per the amounts specified by the Central Government from time to time.

Government of India

  • Action Item: The government needs to manage the repayment of these securities in ten equal installments, starting from the next year from the date of issue.

Reserve Bank of India (RBI)

  • Action Item: RBI needs to ensure smooth processing of subscriptions, interest payments, and redemptions of these securities.

Key Entities Referenced

Government of India: The issuer of the special securities. National Small Savings Fund (NSSF): The subscriber to the special securities. Public Debt Office, Reserve Bank of India, Nagpur: The office responsible for maintaining the Subsidiary General Ledger Account and paying interest. Government Securities Act, 2006: The act governing these special securities.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-06012023-241722 xxxGIDHxxx CG-DL-E-06012023-241722 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 6] नई दिल्ली, बहृ स्ट्प जतिार, िनिरी 5, 2023/पौष 15, 1944 No. 6] NEW DELHI, THURSDAY, JANUARY 5, 2023/PAUSHA 15, 1944 जित्त मत्रं ालय (आर्थकि काय िजिभाग) अजधसचू ना नई दिल्ली, 5 िनिरी, 2023 स.ं 5/1/2021-एनएस(खण्ड).—केंद्रीय सरकार, सरकारी प्रजतभूजत अजधजनयम, 2006 (2006 का 38) की धारा 2 के खंड (च) द्वारा प्रित् त िजियों का प्रयोग करत े हुए एतद्द्वारा यह जिजनर्िष्ि ट करती ह ै दक (i) 7.30% (सात ििमलि तीन िून्य प्रजतित) भारत सरकार एनएसएसएफ (सी) (राष्र ीय लघ ु बचत जनजध) (अहस्ट्त ातं रणीय) जििेष प्रजतभजू त, 2032-33 लोक ॠण कायािलय द्वारा जित्त िषि 2022-23 म ें रखे गए अनुषगं ी सामान्य बही खाते म ें धारक के नाम से रखे िाने िाल े‘स्ट् टॉक’ के रूप म ेंिारी की िाएगी; और (ii) य े प्रजतभूजतयां हस्ट्त ांतरणीय नहीं होंगी। आिीष िच्छानी, अपर सजचि 77 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 5th January, 2023 No. 5/1/2021-NS(Pt.).—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) 7.30% (Seven point three percent) Government of India NSSF (C) (Non-trans) Special Securities, 2032-33 shall be issued in FY 2022-23 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, 5 िनिरी, 2023 7.30% भारत सरकार (राष्र ीय लघ ुबचत जनजध) (सी) (अहस्ट्त ातं रणीय) जििषे प्रजतभजू त, 2032-33 का जनगमि स.ं 5/1/2021-एनएस(खण्ड).—भारत सरकार, एतद्द्वारा 7.30 प्रजतित भारत सरकार राष्र ीय लघु बचत जनजध (सी) (अहस्ट् तातं रणीय) जििेष प्रजतभूजतयां, 2032-33 (इसमें इसके पश्चात इस े “जििेष प्रजतभूजत” कहा गया ह)ै का जनगिम अजधसूजचत करती ह।ै 2. उद्देश्य: 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। (ii) जििेष प्रजतभूजतयां िारी करन े की तारीख भारत सरकार के सहायक सामान्य बही खाते म ें जििेष प्रजतभूजतयों के िमा होने की तारीख होगी।[भाग I—खण् ड 1] भारत का रािपत्र : असाधारण 3 (iii) जििेष प्रजतभूजतया,ं लोक ॠण कायािलय, भारतीय ररििि बैंक, नागपरु म ेंिारी की िाएगं ी। 7. अिजध: जििेष प्रजतभूजतयों की अिजध जनगिम की तारीख स े 10 िष ि होगी। 8. ब्य ाि (i) जििेष प्रजतभूजतयों पर 7.30% (सात ििमलि तीन िून्य प्रजतित) प्रजत िषि ब् याि लगेगा िो जििेष प्रजतभूजतयों के जनगिम की तारीख स े िरूु करके अधि-िार्षिक आधार पर िये होगा। प्रजतभूजतयों पर ब् याि लोक ण कायािलय (अथाति जनगिम कायािलय), भारतीय ररििि बैंक, नागपुर में िेय होगा। (ii) ब् याि जनकटतम सौ पएपए के पणू ानकन के बाि संिेय होगा। 9. चकु ौती: भारत सरकार जििेष प्रजतभूजतयों की चुकौती 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 5th January, 2023 Issue of 7.30% Government of India NSSF (C) (Non-trans) Special Securities, 2032-33 No. 5/1/2021-NS(Pt.).—The Government of India, hereby notifies the issue of 7.30 per cent Government of India NSSF (C) (Non-trans) Special Securities, 2032-33 (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 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] 4. Subscription: Special securities will be issued for an amount of ₹1,00,000 (face value) and in multiples of ₹1,00,000 thereafter. 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 7.30% (Seven point three 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.

Continue your research