Investment against next collection 2023 24

EXTRAORDINARY PART I—Section 1 PUBLISHED BY AUTHORITY No. 262] NEW DELHI, TUESDAY , OCTOBER 3, 2023/ ASVINA 11, 1945 CG-DL-E-03102023-249123 MINISTRY OF FINANCE (Department of Economic Affairs ) NOTIFICATION New Delhi, the 29th September , 2023 No. 5/1/202 3-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 'Stoc k' 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 . NOTIFICATION New Delhi, the 29th September , 2023 Issue of 7. 60% Government of India NSSF (C) (Non -trans) Special Securities, 203 3-34 No. 5/1/202 3-NS.—The Government of India, hereby notifies the issue of 7.60 per cent Government of India NSSF (C) (Non -trans) Special Securities, 203 3-34 (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 iss ue 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 Economi c 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. 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 De bt 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 specia l 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 th e 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, Del hi-110054.