PUNJAB GOVT. GAZ. (EXTRA), JANUARY 7, 2021 (PAUSA 17, 1942 SAKA)

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, JANUARY7, 2021 (PAUSA 17, 1942SAKA)

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GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(Finance Budget-2 Branch)

NOTIFICATION

The 7th January, 2021

No.7/1/2020-2FB2/13.-Government of Punjab hereby notifies the sale of Punjab Government Stock

(securities) of 30-year tenure for an aggregate amount of Rs.500crore (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

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

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), JANUARY 7, 2021 (PAUSA 17, 1942 SAKA)

Place and Date of Auction

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

on January 12, 2021. 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 January 12, 2021.

(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

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 January 13, 2021.

Method of Payment

Successful bidders will make payments on January 13, 2021 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

The Stock will be of 30-year tenure. The tenure of the Stock will commence on January 13, 2021.

Date of Repayment

The loan will be repaid at par on January 13, 2051.

Rate of Interest

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 July 13 and January 13.

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.

2198/1-2021/Pb. Govt. Press, S.A.S. Nagar