Centre to launch Rs 1000 crore inflation bonds today

Mumbai, June 4 (ANI): The Central Government will launch first tranche of inflation-linked bonds for a notified amount of Rs.1,000 crore through yield based auction on Tuesday.

"The Government of India has announced the sale of new Inflation Indexed Government Stock - 2023 for a notified amount of 1,000 crore through yield-based auction ... (scheduled for) June 4," the Finance Ministry had said in a statement earlier.

The auctions will be conducted using uniform price method.

Today's auction by the Reserve Bank of India (RBI) will be the first in a series, with the government planning to sell up to Rs 15,000 crore worth in the fiscal year ending in March, 2014.

"Up to 20 percent of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities," the statement said.

The new Inflation Indexed Government Stock-2023" for a notified amount of Rs.1,000 crore would be issued within the planned Government market borrowing programme for the first half of 2013-14. (ANI)

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