The Government of Karnataka have announced the sale of 10 year stock to the public by auction for Rs.250 crore. The auction will be conducted by Mumbai (Fort) office of the Reserve Bank of India on December 5, 2000. Tenders should be submitted in the prescribed form on Tuesday, December 5, 2000 before 14.30 hrs. Results will be announced the same evening. Payment by successful bidders will be on Wednesday, December 6, 2000.

This is the second auction of State loans during the year 2000-01. In August 2000, the Governments of Andhra Pradesh, Kerala, Maharashtra, Tamil Nadu and West Bengal had raised loans by auction.