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RBI to issue Rs 6,000 crore bonds
New
Delhi,
Oct
31,
2007
:
The
Reserve
Bank
of
India
is
to
issue
bonds
amounting
to
Rs
6,000
crore
with
an
aim
to
suck
excess
liquidity
from
the
financial
system;
this
was
decided
on
the
eve
of
mid-year
monetary
credit
policy.
RBI will issue three-year bonds amounting to Rs 3,000 crore through auction at a coupon rate of 5.87 percent, and another trance of an equal amount and maturity at a coupon rate of 11.30 percent on November 1 under the market stabilization scheme.
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Story first published: Wednesday, October 31, 2007, 18:36 [IST]
