Nine states raising Rs 1,851.26 cr through auction of papers

Mumbai, Mar 22 (UNI) Nine state governments will go in for auction of 10-year state development loans on March 27 to raise an aggregate of Rs 1,851 crore.

The auction to be conducted by Reserve Bank of India (RBI) will be based on multiple price auction method.

The states are: Assam (Rs 100 crore), J&K (Rs 75 Crore), Manipur (Rs 85 crore), Meghalaya (Rs 50 crore), Mizoram (Rs 50 crore), Nagaland (Rs 45 crore), Punjab (Rs 580 crore), Tamil Nadu (Rs 640 crore) and Uttaranchal (Rs 226 crore).

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