fbpx

Type to search

Reserve Bank of India Tells 5 Banks to Issue Zero Coupon Bonds – ET

The Reserve Bank of India has ordered five state-owned banks to raise money through zero coupon state bonds in lieu of equity at ‘fair value’, the Economic Times reported


The Indian rupee is likely to trade near 80.5 to the dollar for 3 months, a poll has found.
Forex analysts say the Indian rupee is likely to trade near 80 to the dollar for several months, unless other factors develop. File photo: Reuters.

 

The Reserve Bank of India has ordered five state-owned banks to raise money through zero coupon government bonds in lieu of equity at ‘fair value’, reported the Economic Times on Monday.

These are the Central Bank of India, Indian Overseas Bank, Uco Bank, Bank Of India and Punjab & Sind Bank, said the report. A zero-coupon bond does not pay interest regularly and are issued at deep discounts to their face value.

Read more: The Economic Times.

 

ALSO SEE:

 

India’s Central Bank Maintains Key Lending Rate at 4%

 

 

Digital Rupee Will Help Cut RBI’s Operational Costs – ET

 

 

Tulips Worth More Than Crypto, RBI Chief Warns Indians

 

 

 

Tags:

Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.

logo

AF China Bond