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Andhra Pradesh government to raise Rs 1,000 crore through securities

The government of Andhra Pradesh plans to raise 1,000 crores of rupees through the sale of its titles. This amount will be used for the development of its new capital, Amaravati, according to a notice published in the Gazette. The securities will be sold on October 23 through an auction organized by the Reserve Bank of India. Bids will need to be submitted to the RBI’s basic banking solution system by tomorrow. The notification said -The proceeds of the loan will be used to finance financing, especially capital and development type included in the annual plan of Andhra Pradesh for 2018-2019.