Haryana notifies fresh framework for sale and insurance of State Government Securities
Babushahi Bureau
Chandigarh, January 7, 2026: The Haryana Government has notified new general terms and conditions for the sale and issuance of State Government Securities, replacing the earlier notification dated July 20, 2007.
The notification has been issued by Chief Secretary Anurag Rastogi, who also holds the charge of Additional Chief Secretary, Finance Department.
The newly notified framework, titled “General Notification for Sale and Issuance of Government Securities by the Government of Haryana”, lays down comprehensive guidelines covering the objectives, types, features, eligible investors and procedures for issuance of State Government Securities. These securities will be issued against the security of the Consolidated Fund of the State of Haryana in accordance with Article 293(1) of the Constitution of India.
As per the notification, the State Government may issue different categories of securities, including fixed coupon rate securities carrying a specific coupon rate determined through auction or other notified methods.
Such securities may be issued at par, at a discount or at a premium, with a minimum original maturity of one year. Securities with special features may also be issued through separate notifications, as and when required.
The notification specifies that eligible investors include residents of India such as individuals, firms, companies, institutions, provident and pension funds, trusts, Hindu Undivided Families, other State Governments and Union Territories having legislatures.
Non-resident investors may also participate, subject to the provisions of the Foreign Exchange Management Act (FEMA) and related regulations.
Operational details including the date of issue, tenor and method of issuance will be announced by the Reserve Bank of India (RBI) through press releases or other means. The securities will be issued in dematerialised form through Subsidiary General Ledger (SGL) or Constituents’ Subsidiary General Ledger (CSGL) accounts maintained with the RBI, or in any other permitted form.
The minimum subscription amount has been fixed at ₹10,000 (face value) and in multiples thereof. Coupon payments and repayment of principal will be made by the Public Debt Offices of the RBI in accordance with prescribed procedures. Provisions relating to repayment, buyback before maturity, transferability, conversion and consolidation of securities have also been detailed in the notification.
The Government may issue securities through auction, on-tap sale, switching of existing securities or any other mode notified in consultation with the RBI. Auctions may be conducted on a yield basis or price basis, using uniform or multiple price methods, with both competitive and non-competitive bidding options available.
The notification further clarifies that the rights and obligations of investors will be governed by the Government Securities Act, 2006, the Government Securities Regulations, 2007, and applicable tax laws. Any dispute arising in connection with the securities will be subject to the jurisdiction of Indian courts.