Amar­a­vati Bond-age

India Today - - UPFRONT -

Andhra Pradesh chief min­is­ter N. Chan­drababu Naidu split from the NDA over the is­sue of funds for his state. But he still needs some Rs 52,000 crore for state cap­i­tal Amar­a­vati. Ergo, ‘Amar­a­vati Bonds’ for Rs 42,000 crore, which will be floated out to non-res­i­dent Tel­u­gus. The catch? Naidu needs to of­fer at least 8 per cent in­ter­est, over the pre­vail­ing 7.75 per cent RBI rate.

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