Tap Sale of 5.85 per cent SDL 2015 closed for 3 States

The sale 'on tap' of 5.85 per cent State Loans, 2015 was closed in respect of Manipur, Nagaland and Orissa on October 14, 2003.

The sale on tap in respect of 3 States, viz., Assam, Bihar and Uttar Pradesh will be kept open on October 15, 2003 to collect the balance target amount. Applications in the prescribed form can be obtained from the Public Debt Office of the respective offices of the Reserve Bank of India and Mumbai Office (for three States).

Applications alongwith the payment will be received at these offices during banking hours while the tap is open. Applicants, submitting the applications on October 15, 2003 would also have to pay interest for two days at 5.85 per cent per annum for the securities they apply for. The Reserve Bank of India reserves the right to close the tap sale during the banking hours on October 15, 2003 having regard to the borrowing requirements of the State Governments and the subscriptions received.