PUNJAB GOVT. GAZ. (EXTRA), DECEMBER 24, 2020 (PAUSA 3, 1942 SAKA)

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Regd. No. NW/CH-22

Regd. No. CHD/0092/2018-2020

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, DECEMBER24, 2020 (PAUSA 3, 1942SAKA)

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GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(Finance Budget-2 Branch)

NOTIFICATION

The 24th December, 2020

No.7/1/2020-2FBII/675.–Government of Punjab hereby notifies the sale of Punjab Government Stock

(securities) of 30-year tenure for an aggregate amount of Rs.1000 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

(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 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 Notification

(Annexure – II).

Place and Date of Auction

PUNJAB GOVT. GAZ. (EXTRA), DECEMBER 24, 2020 (PAUSA 3, 1942 SAKA)

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4. The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort, Mumbai - 400 001

on December 29, 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 29, 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 30, 2020.

Method of Payment

6. Successful bidders will make payments on December 30, 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 30-year tenure. The tenure of the Stock will commence on December 30, 2020.

Date of Repayment

8. The loan will be repaid at par on December 30, 2050.

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 June 30 and December 30.

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.

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