PUNJAB GOVT. GAZ. (EXTRA), DECEMBER 3, 2020 (AGHN 12, 1942 SAKA)
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Regd. No. NW/CH-22
Regd. No. CHD/0092/2018-2020
EXTRAORDINARY
Published by Authority
CHANDIGARH, THURSDAY, DECEMBER 3, 2020 (AGRAHAYANA 12, 1942 SAKA)
( 2519 )
GOVERNMENT OF PUNJAB
FINANCE DEPARTMENT
(Finance Budget-2 Branch)
NOTIFICATION
The 3rd December, 2020
No.7/1/2020-2FB2/634.-Government of Punjab hereby notifies the Re-issue of 6.73% Punjab SDL
2040 Issued on December 02, 2020 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 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 Facility in the Auctions of State Government Securities of the General
Notification (Annexure – II).
PUNJAB GOVT. GAZ. (EXTRA), DECEMBER 3, 2020 (AGHN 12, 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 December 08, 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 December 08, 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 December 09, 2020.
Method of Payment
6.
Successful bidders will make payments on December 09, 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 December 02, 2020.
Date of Repayment
8.
The loan will be repaid at par on December 02, 2040.
Rate of Interest
9.
Interest at the rate of 6.73% per annum will accrue on the nominal value of thestock from the date of
original issue date and will be paid half yearly on June 02 and December 02.
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.
2171/12-2020/Pb. Govt. Press, S.A.S. Nagar