Karnataka, who entered the final by the virtue of first innings lead, will take on Maharashtra at Hyderabad from January 29. (Agencies)
The semi-final match was called off by the umpires without a ball being bowled on the fifth day due to persistent rain. The first day of the encounter was also wiped out.
Karnataka, who were at 447 for five in reply to Punjab's first innings total of 270, went through to their first Ranji final in four seasons.
With rain playing a spoilsport during the entire match, Karnataka had almost sealed their spot in the final after only 36.1 overs of play was possible at the PCA Stadium on Tuesday.
On the penultimate day, Karnataka had consolidated their lead to 177 runs. At stumps, Karnataka were 447 for five in 146.1 overs after bad light stopped the proceedings.
The visitors had scored 96 runs on the day without losing any further wickets to virtually extinguish Punjab's chances.
Left-hander Amit Verma celebrated his return to the state side with an unbeaten knock of 114 runs while in-form Karun Nair reached 151.
The duo added 206 runs for the unbroken sixth wicket stand.
Karnataka, who entered the final by the virtue of first innings lead, will take on Maharashtra at Hyderabad from January 29.