Seven states to raise Rs 5,814.17 crore via bonds
The Reserve Bank on Tuesday said that government of seven states will raise funds through a yield-based auctioning of bonds worth Rs 5,814.17 crore.
By PTI |
MUMBAI: The Reserve Bank on Tuesday said that government of seven states will raise funds through a yield-based auctioning of bonds worth Rs 5,814.17 crore.
The state governments of Bihar, Gujarat, Jammu & Kashmir, Mizoram, Tamil Nadu, Uttar Pradesh and Uttarakhand would auction the loans of over Rs 5,800 crore.
Of the total, Uttar Pradesh would raise Rs 1,700 crore, Bihar Rs 1,196 crore and Gujarat Rs 1,000 crore. Remaining amount would be raised by other four states.
The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on February 22 and the bonds will be reckoned as an eligible investment in government securities by banks for the purpose of statutory liquidity ratio (SLR), RBI said in release.
The state governments of Bihar, Gujarat, Jammu & Kashmir, Mizoram, Tamil Nadu, Uttar Pradesh and Uttarakhand would auction the loans of over Rs 5,800 crore.
Of the total, Uttar Pradesh would raise Rs 1,700 crore, Bihar Rs 1,196 crore and Gujarat Rs 1,000 crore. Remaining amount would be raised by other four states.
The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai on February 22 and the bonds will be reckoned as an eligible investment in government securities by banks for the purpose of statutory liquidity ratio (SLR), RBI said in release.
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