PUNJAB GOVT. GAZ. (EXTRA), MARCH 18, 2021 (PHGN 27, 1942 SAKA)

1499

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, MARCH18, 2021 (PHALGUNA 27, 1942SAKA)

( 1499 )

GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(FINANCE BUDGET-2 BRANCH)

NOTIFICATION

The 18th March, 2021

No.7/1/2020-2FB2/124.-Government of Punjab here by notifies the Re-issue of 7.02% Punjab SDL

2028 issued on March 10, 2021for an aggregate amount of Rs.1032crore (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 Price

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), MARCH 18, 2021 (PHGN 27, 1942 SAKA)

1500

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 March 23, 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 March 23, 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 March 24, 2021.

Method of Payment

Successful bidders will make payments on March 24, 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 7-year tenure from the date of commencement on March 10, 2021.

Date of Repayment

The loan will be repaid at par on March 10, 2028.

Rate of Interest

Interest at the rate of 7.02% 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 September 10 and March 10.

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.

2254/3-2021/Pb. Govt. Press, S.A.S. Nagar