State Cabinet okays raising of Rs 2044 cr loan

Mumbai, June 11 (UNI) The State Cabinet here today approved a proposal for raising a total loan of Rs 2044.31 crore from the open market in the financial year 2007-08.

The Cabinet gave its nod to the proposal as per the rules prescribed by the Reserve Bank of India (RBI).

The State Government had raised a first tranche of Rs 500 crore of the proposed loan on April 20. The Cabinet nod was accorded after raising the loan from the market, an official release said.

UNI