Bengal To Sell Stock Securities

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Kolkata: The West Bengal government has notified the sale of West Bengal government stock securities for a 10 year tenure for an aggregate amount of Rs 2,000 crore.

According to the state secretariat officials, the proceeds of the loan will be utilized towards meeting the requirement for developmental expenditure of the state.

The government stock will be sold through the Reserve Bank of India. The stock, upto 10% of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of the notified amount for a single bid as per the revised scheme for non competitive bidding facility in the auctions of state government securities.