PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 21, 2020 (BHDR 30, 1942 SAKA)

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Regd. No. NW/CH-22

Regd. No. CHD/0092/2018-2020

EXTRAORDINARY

Published by Authority

CHANDIGARH, MONDAY, SEPTEMBER 21, 2020 (BHADRA 30, 1942 SAKA)

( 1379 )

GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(FINANCE BUDGET-2 BRANCH)

NOTIFICATION

The 17th September, 2020

No.7/1/2020-2FB2/437.- Government of Punjab hereby notifies the sale of Re-issue of 6.97% Punjab

SDL 2040 issued on March 11, 2020 for an aggregate amount of Rs.600 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. 7/3/2017-2FBII/445 dated May 08, 2017 of Government of Punjab.

Object of the Loan

1.

(i) To finance part of Capital Expenditure of Plan Scheme and to meet the expenditure on account of

committed liabilities 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.

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. 7/3/2017-2FBII/445 dated May 08, 2017 at a coupon rate to be determined by the Reserve Bank of

India at the Price 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 Facilityin the Auctions of State Government Securities of the General

Notification (Annexure – II).

PUNJAB GOVT. GAZ. (EXTRA), SEPTEMBER 21, 2020 (BHDR 30, 1942 SAKA)

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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 September 22, 2020. 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 September 22, 2020.

(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 September 23, 2020.

Method of Payment

6.

Successful bidders will make payments on September 23, 2020 before close of banking hours by

means of cash, bankers' cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/ New

Delhi or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort) /New Delhi.

Tenure

7.

The Stock will be of 20-year tenure from the date of commencement on March 11, 2020.

Date of Repayment

8.

The loan will be repaid at par on March 11, 2040.

Rate of Interest

9.

Interest at the rate of 6.97 per annum will accrue on the nominal value of the stock from the date of

original issue date and will be paid half yearly on March 11 and September 11.

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 Punjab

K A P SINHA

Principal Secretary to the Government of Punjab,

Finance Department.

2109/9-2020/Pb. Govt. Press, S.A.S. Nagar