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Indian state governments to auction Rs. 18.5 billion of development loans on Monday
New York, March 22 - Nine state governments in India will auction Rs. 18.51 billion of 10-year state development loans on Monday.
The Reserve Bank of India will handle the auction, which will use the multiple price method.
Included in the auction will be Rs. 1 billion from Assam, Rs. 750 million from Jammu & Kashmir, Rs. 850 million from Manipur, Rs. 500 million from Meghalaya, Rs. 500 million from Mizoram, Rs. 450 million from Nagaland, Rs. 5.8 billion from Punjab, Rs. $6.4 billion from Tamilnadu and Rs. 2.3 billion from Uttaranchal.
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