PUNJAB GOVT. GAZ. (EXTRA), JUNE 8, 2023 (JYST 18, 1945 SAKA)

1911

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, JUNE 8, 2023 (JYAISTHA 18, 1945SAKA)

( 1911 )

GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(Finance Budget-2 Branch)

NOTIFICATION

The 8th June, 2023

No. 7/1/2023-2FB2/547.–Government of Punjab hereby notifies the sale of Punjab Government Stock

(securities) of 11-year tenure for an aggregate amount of Rs. 800 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)

The finance part of Capital Expenditure of Plan Schemes 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

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

on June 13, 2023. Bids for the auction should be submitted in electronic format, on the Reserve Bank of India

PUNJAB GOVT. GAZ. (EXTRA), JUNE 8, 2023 (JYST 18, 1945 SAKA)

1912

2853/6-2023/Pb. Govt. Press, S.A.S. Nagar

Core Banking Solution (E-Kuber) system as stated below on June 13, 2023.

(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 June 14, 2023.

Method of Payment

Successful bidders will make payments on June 14, 2023 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 11-year tenure. The tenure of the Stock will commence on June 14, 2023.

Date of Repayment

The loan will be repaid at par on June 14, 2034.

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 December 14 and June 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

Sd/-

AJOY KUMAR SINHA, I.A.S

Principal Secretary to Government of Punjab

Department of Finance