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In December 2020, the government has used financial innovation to recapitalise Punjab & Sind Bank by issuing the lender how many rupees (in crores) worth of non-interest bearing bonds valued at par?

In December 2020, the government has used financial innovation to recapitalise Punjab & Sind Bank by issuing the lender how many rupees (in crores) worth of non-interest bearing bonds valued at par? Correct Answer 5,500

The correct answer is Rs 5,500-crore.

  • The government has used financial innovation to recapitalise Punjab & Sind Bank by issuing the lender Rs 5,500-crore worth of non-interest bearing bonds valued at par.
  • These are special types of zero-coupon bonds issued by the government after proper due diligence.
  • These non-transferable special GOI securities have a maturity of 10-15 years and issued specifically to Punjab & Sind Bank.

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