The Assam government has offered to sell dated securities of Rs 500 crore for a 10-year tenure by auction.
The auction will be conducted by the Reserve Bank of India (RBI) at its Mumbai Office on May 15 and the date of submission for application is also the same, an official release said today.
Competitive bids may be submitted between 10.30 am and 12 pm on the day of the auction electronically on the RBI Core Banking Solution (E-Kuber) System.
Non-Competitive Bids may be submitted only electronically on the day of auction.
The result of the auction will be displayed on the RBI website on the day of auction and the payment by successful bidders will be made the next day, the release added.
The rate of interest, which is the cut-off yield determined at the auction, will be the coupon rate per cent per annum on the stock sold at the auction.
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