6.75% tax-free bonds to be freely tradable
The finance ministry today said UTI-I would give US-64 investors an option to convert their holdings into 6.75 per cent tax-free secondary market tradable bonds. Investors can exercise the bond option between March 15 and April 4. US-64 in its present form will be terminated with effect from June 1.
Finance Secretary S Narayan told reporters that investors preferring the cash option would have to explicitly say this in their option letter that UTI-I would send them within the next two days. The bonds to be issued in May will be redeemable after five years.
M Damodaran, administrator for UTI-I, said UTI-I would not sell securities in today
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app