The Centre today privately placed two new securities, 6.72 per cent 2014 for Rs 5,500 crore and 6.57 per cent 2011 for Rs 7,500 crore, with the Reserve Bank of India (RBI).
The placement aims at substituting foreign debt of the Centre. The government is pre-paying foreign debt amounting to $2.97 billion and substitute this with domestic debt amounting to Rs 13,000 crore.
The dates of repayment of external loans, $1.30 billion from Asian Development bank and $1.67 billion from World Bank, are February 24 and February 27, respectively.
The RBI, in a statement, said the pre-payment is on account of the country
