WB govt announces sale of 10-year securities

The West Bengal government has announced the sale of its 10-year-tenure securities for an aggregate amount Rs 2,000 crore, a state finance department official said today.
The department has issued a notification to make the announcement in this regard, the official said.
The loan would be used for developmental expenditure, the notification said.
The state government's stock would be sold in an auction through the Reserve Bank of India (RBI), it said, adding that the Centre had approved the sale.
The auction would be held on February 20 and successful bidders are required to make payments the next day.
As per the notification, the loan needs to be repaid at par on February 21, 2028.