The Reserve Bank of India (RBI) today permitted trading in power bonds, issued by various states to energy PSUs maturing in 2014 and 2015.
Power bonds have been issued by various states to PSUs in terms of the tripartite agreements among 27 states, the Union Power Ministry, government of India and RBI under one time settlement scheme for dues of electricity boards with effect from April 1, 2010, the apex bank said in a release.
It may be recalled that as provided in the tripartite agreement, these bonds were envisaged to be released for trading in a phased manner, it said.
Twelve bonds including, papers with maturity October 1, 2008, April 1, 2011, April 1, 2012, April 1, 2013 and April 1, 2014 have already been made tradable.