RBI to issue Rs 6,000 crore bonds


New Delhi, Oct 31, 2007 : The Reserve Bank of India is to issue bonds amounting to Rs 6,000 crore with an aim to suck excess liquidity from the financial system; this was decided on the eve of mid-year monetary credit policy. RBI will issue three-year bonds amounting to Rs 3,000 crore through auction at a coupon rate of 5.87 percent, and another trance of an equal amount and maturity at a coupon rate of 11.30 percent on November 1 under the market stabilization scheme.

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