State to raise ₹ 1,050 cr through sale of securities

The State government has decided to raise another ₹ 1,050 crore from the Reserve Bank of India by sale of securities to meet its immediate financial requirements. The government did not opt for the green shoe option so far as it has been doing since the past couple of months, but the tenure of the loan remained at 30 years. The government has bid for the amount which will be mobilized through auction of securities. The auction, to be held through e-Kuber platform of the RBI, will be held on Tuesday and payment by successful bidders would be made the next day.