Rs 1,600 Crore Via SDL By Kerala Govt

Published on: 30 Jul, 2013
Published under: Cochin District News, General Kerala News, Kerala Business News

30 July 2013
Kochi

State government will raise Rs 1,600 crore through State Development Loans (SDL) on Wednesday.The aggregate amount to be raised by Kerala and 11 other states through the auction of dated government securities would be Rs 10,497 crore, and Kerala ranks second in terms of the amount of money being raised.

“The government stock up to 10 % of the notified amount of the sale of each of the stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1 % of its notified amount for a single bid per stock as per the scheme for non-competitive bidding facility,”said Ajit Prasad, assistant general manager of RBI in his statement to the press.

Maharashtra is planning to raise Rs 2,000 crore with an option of retaining additional Rs 500 crore. Similarly Karnataka and Tamil Nadu will retain Rs 500 crore and Rs 100 crore respectively.

Source – http://timesofindia.indiatimes.com/city/kochi/Kerala-government-to-raise-Rs-1600-crore-via-state-development-loans/articleshow/21468886.cms

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