HOME | BUSINESS | REPORT |
March 8, 1999 |
NABARD plans Rs 10-billion issueNational Bank for Agriculture and Rural Development is coming up with an issue of priority sector bonds for Rs 10 billion with a right to retain oversubscription up to Rs 1 billion. The subscription of these bonds by scheduled banks shall be reckoned as part of their priority sector lendings, as per Reserve Bank of India guidelines, a NABARD release said. The proceeds of the bonds will be utilised by NABARD to disburse loans and advances to the eligible banks exclusively to finance village, cottage or small-scale industries, non-farming activities and to aid agriculture and allied activities. The bonds carry a coupon of 11.25 per cent payable half-yearly with a seven-year tenure. The bonds which are being managed in-house by NABARD have been rated 'AAA' by Crisil. The issue will be on tap from March 15 to March 17, 1999, the release said. |
Tell us what you think of this report | |
HOME |
NEWS |
BUSINESS |
SPORTS |
MOVIES |
CHAT |
INFOTECH |
TRAVEL
BOOK SHOP | MUSIC SHOP | HOTEL RESERVATIONS | WORLD CUP 99 EDUCATION | PERSONAL HOMEPAGES | FREE EMAIL | FEEDBACK |