PANAJI
As part of the Centre's approved planned borrowing for the State for 2017-18, the Goa government led by Chief Minister Manohar Parrikar has offered to sell State's Stock (securities) of 10-year tenure of an aggregate amount of Rs 200 crore (nominal).
Government stock will be sold through the Reserve Bank of India, Mumbai office (PDO) fort, by auction at a coupon rate to be determined by the RBI at the yield based auction under multiple price format.
The move comes barely days after Parrikar admitted there was no increase in revenue of the State after GST came into force and the money was needed to tide over general expenses.
Reliable sources had told The Goan that the government would borrow Rs 200 crore sometime before Diwali, but despite the crunch the government had managed to maintain its financial position.
The auction will be conducted by RBI at its Mumbai office on October 10. Bids for the auction should be submitted in electronic format, on RBI core banking solution (E-kuber) system on
October 10.
The competitive bids are to be submitted electronically on the Reserve Bank of India core banking solution (E-Kuber) system between 10.30 am and 12 pm and the noncompetitive bids between 10.30 am and 11.30 am.
The result of the auction will be displayed on RBI website on the same day.
As part of the Centre's approved planned borrowing for the State for 2017-18, the Goa government led by Chief Minister Manohar Parrikar has offered to sell State's Stock (securities) of 10-year tenure of an aggregate amount of Rs 200 crore (nominal).
Government stock will be sold through the Reserve Bank of India, Mumbai office (PDO) fort, by auction at a coupon rate to be determined by the RBI at the yield based auction under multiple price format.
The move comes barely days after Parrikar admitted there was no increase in revenue of the State after GST came into force and the money was needed to tide over general expenses.
Reliable sources had told The Goan that the government would borrow Rs 200 crore sometime before Diwali, but despite the crunch the government had managed to maintain its financial position.
The auction will be conducted by RBI at its Mumbai office on October 10. Bids for the auction should be submitted in electronic format, on RBI core banking solution (E-kuber) system on
October 10.
The competitive bids are to be submitted electronically on the Reserve Bank of India core banking solution (E-Kuber) system between 10.30 am and 12 pm and the noncompetitive bids between 10.30 am and 11.30 am.
The result of the auction will be displayed on RBI website on the same day.
