Borrowing Cheap

The Central Bank says it will issue Rs. 2 bn worth of two-year treasury bonds to the debt market, as part of its borrowing programme for March.
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Of the Rs. 27.114 bn worth of treasury bills maturing, the bank has opted to re-issue only Rs.
20.364 bn worth of paper. The balance Rs. 6.750 bn will be bought by the Central Bank.
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rnThe bank also hopes to retire Rs. 2 bn worth of treasury bills on March 31, 2004.
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