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GoG mulls issuing Swarnim Gujarat Bonds in 2010
Government of Gujarat is considering a proposal to issue Swarnim Gujarat Bonds, in 2010, being celebrated as golden jubilee year of Gujarat's foundation in Ahmedabad.
Government of Gujarat is considering a proposal to issue Swarnim Gujarat Bonds, in 2010, being celebrated as golden jubilee year of Gujarat's foundation in Ahmedabad.
"We are considering a proposal for issuing Swarnim Gujarat Bonds, in 2010 as part of the golden jubilee year celebration of Gujarat's foundation," a senior state finance department official told PTI on Thursday.
It's at a conceptual stage, but now will be taken up for discussions, he added.
The market size of the bonds is still not clear, the official said.
Once the formal decision for floating the bonds is taken by the government, RBI shall be communicated about it, sources said.
In 1993, the state government had issued Deep Discount Bonds of Sardar Sarovar Narmada Nigam Limited (SSNNL), to fund its Narmada project, they added.
However, these bonds promising very high interest rates were redeemed pre-maturely creating a furore amongst the investors here, sources said.
