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HYDERABAD: The State Government has announced a 5.7 per cent Andhra Pradesh State Development Loan, 2014, of 10-year tenure to the public by tap issue. The issue will be conducted by the RBI at its Hyderabad and Mumbai offices on or after May 26. The proceeds of the loan will be used for financing, particularly of capital and developmental nature included in the Annual Plan of the State for 2004-05.

The State Government loan will be issued for a minimum amount of Rs 10,000 (face value) and in multiples thereafter. The loan tenure commences on May 28 and interest will be paid half-yearly on November 28 and May 28 every year, according to an official release. The applications for purchase of the loan must be submitted at the Hyderabad or Mumbai RBI office.

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