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PUNJAB GOVT. GAZ. (EXTRA), MAY 30, 2024 (JYST 9, 1946 SAKA)

EXTRAORDINARY

Published by Authority

CHANDIGARH, THURSDAY, MAY 30, 2024 (JYAISTHA 9, 1946 SAKA)

( 3389 )

GOVERNMENT OF PUNJAB

FINANCE DEPARTMENT

(Finance Budget-2)

NOTIFICATION

The 30th May, 2024

No.7/1/2024-2FB2/536.-Government of Punjab hereby notifies the sale of Punjab Government Stock

(securities) of 13-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

1.

(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 Facilityin 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 -

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PUNJAB GOVT. GAZ. (EXTRA), MAY 30, 2024 (JYST 9, 1946 SAKA)

3107/5-2024/Pb. Govt. Press, S.A.S. Nagar

Bank of India Core Banking Solution (E-Kuber) system as stated below on June 04, 2024.

(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 June 05, 2024.

Method of Payment

6.

Successful bidders will make payments on June 05, 2024 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 13-year tenure. The tenure of the Stock will commence on June 05, 2024.

Date of Repayment

8.

The loan will be repaid at par on June 05, 2037.

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 December 05 and June 05.

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

AJOY KUMAR SINHA, IAS

Principal Secretary to Government of Punjab

Department of Finance

Sd/-