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Our Bureau

Mumbai , Jan. 5

THE Reserve Bank of India proposes to raise Rs 6,000 crore through the sale (reissue) of the 9.39 per cent Government stock 2011 and Rs 4,000 crore through the sale (reissue) of the 7.40 per cent Government stock 2035 on January 9.

According to a release from the central bank, the price-based auction will be conducted using the multiple price method. Up to 5 per cent of the notified amount of the sale of the stocks will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility.

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