The Haryana government has notified sale of state government stock (securities) of 4-year tenure for an aggregate amount of Rs 500 crore (nominal).
A notification to this effect has been issued by the Finance Department, Haryana, an official release said here.
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 (Fort) office on July 8.
Bids for the auction should be submitted in an electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) System on July 8, it said.
The results of the auction would be displayed by the Reserve Bank on its website the same day.
Successful bidders will make payments on July 9 before close of banking hours by means of cash, banker's cheque, pay order, demand draft payable at Reserve Bank of India, Mumbai or New Delhi or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort) or New Delhi, the release added.
The stock will be of 4-year tenure and period will commence on July 9.
