Tamil Nadu’s Financial Initiative: Public Securities Sale Explained

The Tamil Nadu government has unveiled plans to issue securities worth Rs. 5000 crore to the public, with offerings including 5-year securities totaling Rs. 1000 crore, 9-year securities amounting to Rs. 2000 crore, and 10-year securities worth Rs. 2000 crore. The auction, overseen by the Reserve Bank of India at its Mumbai office in Fort, Mumbai, is scheduled for May 28, 2024. Competitive bids can be submitted electronically on the RBI Core Banking Solution (E-Kuber) System between 10.30 a.m. and 11.30 a.m., while non-competitive bids are accepted from 10.30 a.m. to 11 a.m. This initiative presents an opportunity for investors to participate in the state’s securities market, aligning with the government’s strategy to raise funds for developmental projects while providing investment avenues for the public. Mark your calendars for this significant financial event!. This notification was published on May 23, 2024.

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