Govt to raise Rs 10,000 cr through auction of bonds Monday, September 6 2004 20:24 Hrs (IST)
New Delhi:
Government plans to raise Rs 10,000 crore through auction of three bond issues including a floating rate bond on September 9, as part of its Rs 1,50,681 crore market borrowing programme for this fiscal.
The Centre intends to raise Rs 4,000 crore through a nine-year floating rate bond, the interest rate of which would be determined by RBI (Reserve Bank of India) during the auction.
On behalf of Government, RBI will also auction 5-year bonds to raise Rs 3,000 crore and another 18-year bonds for an equivalent amount, an official release said.
The bonds slated for September 9 auction are slightly different from those listed in the calendar for selling G-Secs.
According to the calendar, the Centre was supposed to raise Rs 6,000 crore through 5-9 year securities and another Rs 4,000 crore through 15-19 year papers.