An auction for sale of 10 year Karnataka Government Stock was held at Reserve Bank of India, Mumbai on January 18, 2000. As against the notified amount of Rs.200 crore, 147 bids for an aggregate amount of Rs.1723.50 crore were received. 4 bids upto the yield of 11.08 per cent per annum for an aggregate face value of Rs.200 crore were accepted which received full allotment. The weighted average yield at cut off was 11.07 per cent indicating the actual cost of the borrowing raised by the State Government in the auction.