News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Risk Management and Inter-bank Dealings- Participation of Banks in Offshore Non-deliverable Rupee Derivative Markets
 Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Deletion of one individual
 Formation of new Union Territory of The Dadra and Nagar Haveli and Daman and Diu - Assignment of UTLBC Convenorship
 Formation of new district in the State of Chhattisgarh – Assignment of Lead Bank Responsibility
 All banks, NBFCs to allow 3 month moratorium on all term loans
  RBI advances variable rate Repo auction scheduled for March 30, 2020 to March 26, 2020 and Temporarily enhances Standing Liquidity Facility for SPDs
  Priority Sector Lending - Lending by banks to NBFCs for On-Lending
 RBI advances variable rate Repo auction scheduled for March 30, 2020 to March 26, 2020 and Temporarily enhances Standing Liquidity Facility for SPDs
 Priority Sector Lending - Lending by banks to NBFCs for On-Lending
 RBI to conduct variable rate Term Repos of ₹1,00,000 crores
 RBI advances the OMO Purchase auction scheduled for March 30, 2020 to March 26, 2020

RBI-Private Placement of Special Securities of Jammu and Kashmir under UDAY scheme
October, 06th 2016

Jammu and Kashmir Government proposes to issue Special Securities of a notified amount of 1,397.55 crore, under the Ujjwal Discom Assurance Yojna Scheme (UDAY). Eligible market participants interested in subscribing to these Special Securities are advised to email their bids as per the format given below between 10.30 am to 12.00 noon on October 06, 2016 (Thursday).

Investor name Spread offered over corresponding year FIMMDA yield Amount to be subscribed
     

Allotment of securities and settlement will take place on October 07, 2016 (Friday). The terms and conditions of the issuance are as under:

  1. The Special Securities will have a face value of 100.

  2. Securities will be issued in equal strips with a maturity at the end of 6th, 7th, 8th, 9th, 10th, 11th, 12th, 13th, 14th and 15th year. An investor will be required to purchase entire structure and the bid amount will be uniformly distributed across all tenors.

  3. Minimum size of bid will be 100 crore.

  4. Base rate will be the yield on corresponding FIMMDA Government of India G-sec yield as at close of October 05, 2016.

  5. The uniform spread (with a cap of 75 bps over corresponding GoI FIMMDA yield) offered by the bidder will be added to the base rate to arrive at the coupon to be paid on semiannual basis.

  6. Successful bidders will be determined on the basis of competitive spread.

  7. The Reserve Bank of India will have the discretion to accept or reject any/all bids at its sole discretion.

It may be recalled that the Ministry of Power, Government of India on November 20, 2015 issued an Office Memorandum (No 06/02/2015-NEF/FRP) on “UDAY (Ujjwal Discom Assurance Yojna) Scheme for Operational and Financial Turnaround of Power Distribution Companies (DISCOMs)”.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/862

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting