"These funds will be utilised to provide longterm funding to PPP projects in the sectors like power and infrastructure," he said.
There will not be any tax implication at the time of investment in these bonds, while interest earned from the bonds is tax free.
The coupon rate applicable for the other categories of investors shall be lower by 50 basis points 7.19 per cent for 10 years and 7.36 per cent for 15 years and 7.40 per cent for 20 years.
The issue will open on December 26 and closes on January 11.
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