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Haryana floats securities to raise Rs 1,295 cr

The Haryana government has floated stocks of ten years tenure for an aggregate Rs 1,295 crore to be sold through Reserve Bank of
India by auction.

The proceeds of the loan would be utilized for financing the expenditure of the developmental programmes of the state government.

While stating this here, a spokesman of the Finance Department said that the state government had notified the sale of these stocks. The consent of the Central government was needed under Article 293 (3) of the Constitution.

The spokesman added that the loan would be repaid at par on February 6, 2019 and the interest would be paid half yearly.

 

 














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