"...State Governments have offered to sell securities by way of auction for an aggregate amount of Rs 9,800 core (Face Value)," the central bank said in a notification.
The Reserve Bank further said it will determine the maximum yield/minimum price at which bids will be accepted.
Securities will be issued for a minimum nominal amount of Rs 10,000 and multiples of Rs 10,000 thereafter.
The state government securities will bear interest at the rates determined by RBI at the auctions.
For the new securities, interest will be paid half yearly on October 16 and April 16 of each year till maturity.
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