March 28, 2016 4:59 PM

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RBI announces pvt placement of special securities under UDAY

The RBI today asked market participants interested in subscribing to the special securities under UDAY scheme through private placement route to approach it by March 30. Power Ministry had introduced the Ujjwal Discom Assurance Yojana (UDAY) in November for revival of debt ridden power distribution companies (DISCOMs) in different states. The special securities under UDAY are being issued by governments of Bihar, Haryana, Jammu and Kashmir, Jharkhand, Punjab and Rajasthan. The scheme is likely to help discoms save around Rs 1.8 lakh crore in the next three years.

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