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MUMBAI: The Kerala Government has announced the sale of a 10-year Kerala State Development Loan 2015 for a notified amount of Rs 250 crore through a yield-based auction using the multiple price auction method.

The auction will be conducted by the Reserve Bank of India at Mumbai on August 4, said an RBI note issued here. The results will be announced on the same day and payment by successful bidders will be accepted during banking hours on August 5 at Mumbai and Thiruvananthapuram.

The stock will qualify for the ready forward facility, the note added.

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