Government of Tamil Nadu to Auction 10-Year Securities Worth Rs. 2000 Crore on August 6, 2024

The Government of Tamil Nadu has officially announced the sale of 10-year securities amounting to Rs. 2000 crore. This significant financial move is set to be conducted through an auction by the Reserve Bank of India (RBI) at its Mumbai Office, located at Fort, Mumbai, on August 6, 2024. This sale will be available to the public, offering an opportunity for competitive and non-competitive bids.

Auction Details:

• Date: August 6, 2024
• Venue: Reserve Bank of India, Mumbai Office, Fort, Mumbai
• Auction Type:
  • Competitive Bids: 10:30 A.M. to 11:30 A.M.
  • Non-Competitive Bids: 10:30 A.M. to 11:00 A.M.
• Platform: Reserve Bank of India Core Banking Solution (E-Kuber) System

This auction is a strategic effort by the Tamil Nadu Government to manage state finances effectively while offering a secure investment opportunity to the public. The 10-year securities, known for their stability and fixed returns, are likely to attract both institutional and individual investors.

Interested parties are advised to submit their bids electronically through the RBI's E-Kuber system within the specified time frame.