Maharashtra to raise ₹2,500 crore via bond sale
India
Maharashtra is gearing up to raise over ₹2,500 crore by selling bonds through the Reserve Bank of India.
The funds will help power new development projects across the state.
Fresh 10-year bonds and long-term reissue
The government will auction fresh 10-year bonds worth ₹1,000 crore on March 24, plus a possible extra ₹500 crore if demand is high.
These start earning interest from March 25 and mature in 2036.
There's also a reissue of long-term bonds, ₹1,000 crore maturing in 2052 and another ₹530 crore maturing in 2047, both offering a steady 7.66% interest.
Proceeds to be used for developmental works
The government said the proceeds will be used to finance developmental works across the state.