Mumbai, June 12: The Reserve Bank of India is selling debt from 28 state governments on-tap in the form of 6.35 per cent in 10-year loans for 7,000 crore Rs. Some traders expect the sale to close soon. The Reserve Bank of India has received good response to a sale of state government loans which opened earlier on Thursday.
This is the first set of borrowings by the states under the debt swap plan for the current financial year to March 2004.
Bureau Report