NABARD to raise Rs 10,000 cr through ZCBs

Kolkata, Aug 8(UNI) The Centre has permitted NABARD to raise Rs 10,000 crore through Zero Coupon Bonds (ZCBs) for priority areas in agriculture and rural development.

Announcing this, NABARD Regional office Chief General Manager P Mohaniah said here today that the issue reopened on Agust seven and the face value of each bond was Rs 20,000.

The income accrued on the bonds would be treated as capital gains and taxed accordingly, he said.

The bonds were available for subscription at all the offices of NABARD and select AXIS BANK (formerly UTI Bank) branches, he said.

UNI