As per the notification, the proceeds of the loan will be utilised to finance State Plan Outlay in connection with the development programmes of the state government.
The auction of the government stock will be conducted by the Reserve Bank of India, at its Mumbai Office on March 25, the notification said.
The results of the auction would be displayed by the Reserve Bank on its website on the same day. Successful bidders will make payments on March 26, 2014 before close of banking hours, the notification said.
The stock will be of 10-year tenure and the tenure of stock will commence on March 26, 2014. The loan will be repaid at par on March 26, 2024.
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