PANAJI
In what could be the last such exercise this fiscal, the Goa government is hoping to raise Rs 100 crore by sale of government stock (securities) of 10-year tenure via the auction route through the Reserve Bank of India (RBI).
The loan will be utilized to finance capital expenditure related to ongoing development work of the State government, the notification states.
The Centre has given its consent to raise the loan by selling government stock through the RBI's Mumbai office by auction.
The RBI will conduct the auction on next Monday (February 28) between 9.30 am and 10.30 am at its Mumbai office.
As much as 10% of the notified amount of sale of Rs 100 crore will be allotted to eligible individuals and institutions up to a maximum limit of 1% per bid.
A State Finance department official said, the Rs 100 crore sought to be raised is part of the total borrowing proposals in the State's budget.
