RBI permits transfer of/trading in the power bonds

Mumbai, Mar 31 (UNI) The Reserve Bank of India has permitted transfer of/trading in the Power Bonds, maturing on October 1, 2012 and April 1, 2013, issued by various States to the Central Public Sector Undertakings (CPSUs).

These Bonds have been issued as per the terms of Tripartite Agreement among 27 State Governments, Ministry of Power, Government of India and the Reserve Bank of India, under One Time Settlement Scheme for dues of State Electricity Boards with effect from April 1, 2008, RBI said in a release here today.

It may be recalled that as provided in the Tripartite Agreement, these bonds were envisaged to be released for trading in a phased manner. Eight bonds maturing on October 1, 2008, April 1, 2009, October 1, 2009, April 1, 2010, October 1, 2010, April 1, 2011, October 1, 2011 and April 1, 2012 have already been made tradable.

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