Puducherry, Oct 19 (PTI) The Puducherry government today Also Read - Banks to Charge For Deposits & Withdrawals From Nov 1; Cong Says 'Modi Sarkar ka Kamar Tod Tohfa'

announced sale of eleven-year securities in the form of stock Also Read - Odisha Man Learns Robbery Techniques From YouTube, Loots 2 Banks to Repay His Loans

to the public by auction to aggregate Rs 100 crore. Also Read - Mumbai Rains: Heavy Rains Paralyse City, IMD Warns of 'Flooding', Local Trains Suspended Due to Waterlogging; BMC Declares Holiday

Puducherry Finance Secretary V Candavelou said in a

release that the auction would be conducted by Reserve Bank of

India Mumbai Office (Fort) on October 24.

The release said that securities would be issued for a

minimum nominal amount of Rs 10,000 and in multiples of Rs

10,000 thereafter.

The government stock would bear interest at the rate

determined by RBI at the auction.

Interest would be paid on April 25 and October 25 every

financial year until repayment.

The stocks would qualify for ‘ready forward facility,’

the release said.

Interested persons, firms, companies, corporate

bodies and trusts may submit a single consolidated

non-competitive in electronic format at “http://www.rbi.org.

in/ on October 24 between 10.30 a.m. and 11.30 a.m.

The release said competitive bids should be submitted

electronically at www.rbi.org.in between 10.30 a.m. and noon

on the same day.

The result of auction would be displayed by RBI Fort

Mumbai on October 24 on its website.

Successful bidders should deposit the price amount of

the stock covered by their bids by means of a banker’s cheque

or demand draft payable at RBI Mumbai (Fort) or Chennai on

October 25, before close of banking hours.

This is published unedited from the PTI feed.