Tamil Nadu Government to Raise ₹2,000 Crore Through RBI Bond Auction on July 14

The Tamil Nadu Finance Department has announced that the State Government will raise ₹2,000 crore through the auction of State Development Loan (SDL) bonds to meet its funding requirements.

According to an official statement issued by the Finance Secretary, the government will issue two categories of bonds:

- ₹1,000 crore through an 8-year State Development Loan (SDL) bond

- ₹1,000 crore through a 15-year State Development Loan (SDL) bond

The bond auction will be conducted by the Reserve Bank of India (RBI) at its Mumbai Fort Office on July 14.

Auction Schedule

Competitive bids can be submitted between 10:30 AM and 11:30 AM, while non-competitive bids will be accepted from 10:30 AM to 11:00 AM on July 14.

All bids must be submitted electronically through the Reserve Bank of India`s Core Banking Solution (E-Kuber) platform.

The proposed bond issue is part of the Tamil Nadu Government`s regular borrowing programme through State Development Loans to finance developmental projects and other public expenditure.