DIMAPUR, MARCH 25 (MExN): The Government of Nagaland has announced the sale of their 10-year State Development Loan (SDL) for an aggregate amount of `100.000 crore through yield based auction using multiple price auction method. This was informed in a press note issued by Ajit Prasad Assistant General Manager RBI. The auction will be conducted by the Reserve Bank of India (RBI) at Mumbai on March 29, 2011 (Tuesday).
The Government Stocks will bear interest at the rates determined by RBI at the auctions. Interest will be paid half yearly on September 30 and March 30 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007. The investment in Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR).
The Government Stocks will bear interest at the rates determined by RBI at the auctions. Interest will be paid half yearly on September 30 and March 30 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007. The investment in Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR).
