RBI permits trading in power bonds

Mumbai, Apr 2 (UNI) The Reserve Bank of India (RBI) has permitted transfer of trading in the Power Bonds, maturing in October 1, 2011, and April 1, 2012, issued by various states to Central Public Sector Undertakings (CPSUs).

This is in terms of Tripatite Agreement among 27 state governments, Ministry of Power Government of India and the RBI under one time settlement scheme for dues of State Electricity Boards.

It may be recalled that as provided in the agreement, these bonds were envisaged to be released for trading in phased manner. Six bonds maturing on October 1, 2008, April 1, 2009, October 1, 2009, April 1, 2010, October 1, 2010 and April 1, 2011, have already been made tradeable, an RBI release here said.

UNI