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Issue of 'Postal Life Insurance Government of India Special Floating Rate Security, 2022'
April, 12th 2012
                                    PRESS COMMUNIQUE


Government of India has announced the issue of ,,Postal Life Insurance Government of India
Special Floating Rate Security 2022, (hereinafter briefly described as "Special Floating Rate
Bond") for Rs 7,000 crore (nominal). The Special Bonds are being issued at par to Department
of Post on March 30, 2012 as part conversion of the frozen corpus of Post Office Life
Insurance Fund (POLIF) and Rural Post Life Insurance Fund (RPOLIF).


2. The investment in the Special Floating Rate Bond by the banks and Insurance Companies
will not be reckoned as an eligible investment in Government Bonds for their statutory
requirements. However, such investment by the insurance companies will be eligible to be
reckoned as investment under "other Approved Bonds" category as defined under Insurance
Regulatory and Development Authority (Investment) Regulations, 2000. Further, the
investment by the Provident Funds, Gratuity Funds, Superannuation Funds, etc. in the Special
Bonds will be treated as an eligible investment under the administrative order of the Ministry of
Finance.


3. The Special Floating Rate Bonds will be transferable and eligible for market ready forward
transactions (Repo).




GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
NORTH BLOCK, NEW DELHI-110001
DATED, THE APRIL 11, 2012



 
 
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