• search

Punjab govt to float loan of Rs 437.86 crore

Written by: Staff
|

Chandigarh, May 9 (UNI) The Punjab Government, today announced its proposal to float a 10 year loan of Rs 437.86 crore, in consultation with the Reserve Bank of India (RBI).

The auction of the loan would be kept open till May 11.

An offical spokesman said the government stock would be sold through the RBI's Mumbai office (PDO) by auction, at a coupon rate, to be determined by the RBI at the yield auction under multiple price format and would be paid half-yearly on every November 12 and May 12.

The application form duly filled in with the bids could be submitted to the aforesaid RBI office on May 11 and the payment by the successful bidders would be on May 12.

He further added that the state government stock would be issued by credit to the Subsidiary General Ledger (SGL) account maintained with RBI, to the parties having such accounts and in the form of stock certificates to others.

This stock would be issued for a minimum amount of Rs 10,000 (face value) and in multiples thereof.

UNI HS JMK MP

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more