Search: Look for:   Last 1 Month   Last 6 Months   All time

Three states to auction Rs.2,850 crore loan

Maharashtra,Business/Economy, Thu, 05 Apr 2012 IANS

Mumbai, April 5 (IANS) Governments of Andhra Pradesh, Haryana and Punjab will sale state development loans worth Rs.2,850 crore through an open auction, the Reserve Bank of India (RBI) said Thursday.

 

The RBI will conduct the auction in Mumbai April 10. The sale will be of 10-year "state development loans" maturing in 2022.

 

Andhra Pradesh will auction the loan worth a face value of Rs.1,500 crore, while Haryana will do it for Rs.650 crore and Punjab for Rs.700 crore.

 

"Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS)," RBI said.

 

The state government stocks will bear interest at the rates determined by RBI at the auction.

 

Interest will be paid half yearly on Oct 11 and April 11 each year till maturity. The stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.

 


LATEST IMAGES
President of India presenting the Shaurya Chakra to Lieutenant Colonel Niranjan Ek
PM distributing the smart mobile phones to women entrepreneurs of Sakhi Mandal
PM distributing the Certificate of Appointment to constables of Paharia Special India Reserve Batallion
PM Modi at the function to inaugurate the various projects in Sahibganj
PM Narendra Modi being received by the Governor of Jharkhand
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.