PUNJAB GOVT. GAZ. (EXTRA), OCTOBER 8, 2020 (ASVN 16, 1942 SAKA)
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Regd. No. NW/CH-22
Regd. No. CHD/0092/2018-2020
EXTRAORDINARY
Published by Authority
CHANDIGARH, THURSDAY, OCTOBER 8, 2020 (ASVINA 16, 1942 SAKA)
( 1565 )
GOVERNMENT OF PUNJAB
FINANCE DEPARTMENT
(FINANCE BUDGET-II BRANCH)
NOTIFICATION
The 8th October, 2020
No.7/1/2020-2FBII/487.-Government of Punjab hereby notifies the sale of Punjab Government Stock
(securities) of 10-year tenure for an aggregate amount of Rs.500 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 Schemes and to meet theexpenditure on account
of committed liabilities and other development schemes underexecution he proceeds of the loan
will be utilized for financing productive development programmes and projects to be implemented
in the State.
(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 yield
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 Facility in the Auctions of State Government Securities of the General
PUNJAB GOVT. GAZ. (EXTRA), OCTOBER 8, 2020 (ASVN 16, 1942 SAKA)
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Notification (Annexure – II).
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 October 13, 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 October 13, 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 October 14, 2020.
Method of Payment
6.
Successful bidders will make payments on October 14, 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 10-year tenure. The tenure of the Stock will commence on October 14, 2020.
Date of Repayment
8.
The loan will be repaid at par on October 14, 2030.
Rate of Interest
9.
The cut-off yield determined at the auction will be the coupon rate percent per annum on the Stock sold
at the auction. The interest will be paid on April 14 and October 14.
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.
2122/10-2020/Pb. Govt. Press, S.A.S. Nagar