India issues bonds worth $1.69 bln to 11 banks

India on Thursday issued bonds worth 68.31 billion rupees to 11 state-run banks in exchange for recapitalisation bonds held by them, a finance ministry statement said.

India on Thursday issued bonds worth 68.31 billion rupees ($1.69 billion) to 11 state-run banks in exchange for recapitalisation bonds held by them, a finance ministry statement said.

HT Image

The new bonds qualify for statutory liquidity ratio and will be freely tradeable in the market, it said.