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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 Updated: Aug 02, 2007 20:26 IST

Reuters
Hindustantimes
         

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.

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

First Published: Aug 02, 2007 20:24 IST