Early Times Reporter
Jammu | Sep 18
The Reserve Bank today said eight states, including Jammu-Kashmir, Gujarat and Punjab, would raise Rs 3,073.74 crore by auctioning 10-year government bonds.
Through the auction, to be undertaken by RBI on September 20, Punjab would raise Rs 1,000 crore, Tamil Nadu Rs 500 crore, Gujarat Rs 475 crore, Kerala Rs 435.99 crore, Himachal Pradesh Rs 300 crore, Jammu and Kashmir Rs 134.51 crore, Assam Rs 116.13 crore and Sikkim Rs 112.10 crore, the regulator said in a statement.
"Tamil Nadu will have the option to retain additional subscription up to a maximum of Rs 125 crore over and above the notified amount," RBI said in a release.
The coupon rate for the auction would be determined under the multiple price format.
In a separate statement, Punjab government spokesman said the government bonds would be issued for a minimum amount of Rs 10,000 (face value) and in multiples thereof.
The interest would be paid half yearly on the paper on March 21 and September 21, he said.
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