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Govt announces auction of sovereign green bonds in two tranches
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IANS | 06 Jan, 2023
The government on Friday announced the auction of Rs 16,000 crore of sovereign green bonds (SGrBs) in two tranches.
"As
announced in the Union Budget 2022-23, the government of India, as part
of its overall market borrowings, will be issuing Sovereign Green Bonds
(SGrBs), for mobilising resources for green infrastructure. The
proceeds will be deployed in public sector projects which help in
reducing the carbon intensity of the economy," the Finance Ministry said
in a statement.
The Centre will auction green bonds of five-year
and 10-year duration worth Rs 4,000 crore each on January 25 and
February 9, 2023, adding that it would be a uniform price auction.
Five
per cent of the notified amount of sale will be reserved for retail
investors as specified under the "Scheme for Noncompetitive Bidding
Facility in the auction of government of India Dated Securities and
Treasury Bills", the statement said.
SGrBs will be eligible for
trading in the secondary market and will be designated as specified
securities under the 'Fully Accessible Route' for investment in the
Government Securities by non-residents.
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