MUMBAI (Reuters) – The Reserve Bank of India (RBI) said late on Friday it will introduce a non-competitive bidding facility in conducting an auction of 10-year state development loans on Aug 25.
The auction will be for loans of five state governments, totalling 45 billion rupees ($925 million).
Under the scheme up to 10 percent of the loan on sale will be allotted to eligible individuals and institutions, subject to a maximum of 1 percent of the notified amount for a single bid per stock, RBI said in a statement.
No comments:
Post a Comment