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The Central Board of Direct Taxes has allowed National Bank for Agriculture and Rural Development to raise funds by issuing zero-coupon bonds, according to a gazette notification issued Thursday. NABARD can raise INR 195 billion by issuing 1.95 million zero-coupon bonds on or before Mar. 31, 2027, for a period of 10 years eleven months and thirteen days, the notification said. The bonds will be issued at a discount of INR 103.50 billion, it added.
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