RBI to sell Rs 1,000 cr inflation indexed bonds on Nov 26
Interest at the rate of 1.44 per cent per annum will accrue on the indexed principal value of the bonds from the date of original issue and will be paid half yearly on December 5 & June 5, RBI said in a release.
November 25, 2013 / 11:27 IST
The Reserve Bank today said it will sell inflation-indexed bonds worth Rs 1,000 crore through price-based auction on November 26.
Interest at the rate of 1.44 per cent per annum will accrue on the indexed principal value of the bonds from the date of original issue and will be paid half yearly on December 5 & June 5, RBI said in a release.Also read: India's long-term credit outlook looks stable: Moody's The RBI would allot up to 20 percent of the notified amount of the bonds to eligible individuals and institutions as per the scheme for non-competitive bidding facility. This is the second round of inflation bonds, after the maiden offering in June.The bids for the auction should be submitted in electronic format on RBI's core banking solution on November 26, the release said. The central bank will announce result of the auctions on November 26 and payment by successful bidders will be on November 27, it added. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
