Headlines       Vol. 2 Issue 1-2

May 7- May 21 , 1999

Nagaland Government floats open market loan The Nagaland Government is floating an open market loan of Rs. 30 crore to finance productive developmental programmes and projects to be implemented during the plan period. The main terms of the loan entails that the issue price would be Rs. 1000 for every Rs. 1000 of the loan applied for to be repaid at par on April 21, 2009. The loan will carry an interest of Rs. 12.25 per cent per annum from April 21, 1999 subject to tax under Income Tax Act 1961, payable half yearly. Subscription for the loan can be made in the form of cash or cheque and will be received at the branches of Reserve Bank of India, Ahmedabad, Bangalore, Bhubaneswar, Mumbai, Calcutta, Guwahati, Hyderabad, Jaipur, Kanpur, Chennai, New Delhi, Patna, Thiruvanan-thapuram.

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