Govt to issue Rs 5,000cr oil bonds on Oct 16

The finance ministry will issue the first tranche of oil bonds, worth Rs 5,000 crore, on October 16 to compensate oil marketing companies for incurring losses on selling petroleum products below the production cost.

Official sources said the bonds will not be given SLR status but will carry PF status.

The bonds for the first and the second quarter will be issued during October, November and December.