The Government of Karnataka have announced the sale of 10 year stocks to the public by auction for Rs.200 crore. The auction will be conducted by Mumbai office of the Reserve Bank of India on January 18, 2000. Tenders should be submitted in the prescribed form on Tuesday, January 18, 2000 before 14.30 hrs. Results will be announced the same evening. Payment by successful bidders will be on Wednesday, January 19, 2000.

This is the second auction of State loans during the year 1999-2000. In August 1999, the Governments of Andhra Pradesh and Tamil Nadu had raised loans by auction.