Infrastructure Development Finance Company (IDFC) has launched retail issue of long-term tax saving infrastructure bonds offering coupon rate of 8.7 per cent with maturity of 10 years. The subscription is open till February 25. This is the second round of retail issue in the current financial year.
“This is the tax saving quarter and we expect collections to pick up during the period,” said S J Balesh, senior director-resources, IDFC.
Individuals typically invest in tax saving instruments in January-March to make declarations before the end of the financial year.
The Reserve Bank of India (RBI) today announced that it would purchase government securities worth Rs 10,000 crore through open market operations ...