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    Question

    When was the GOI FRB 2035 bond initially issued, and

    under what arrangement?
    A January 25, 2005, against transfer of subordinated debt of IDFC Correct Answer Incorrect Answer
    B March 15, 2010, under direct market auction Correct Answer Incorrect Answer
    C April 1, 2002, through RBI’s open market operations Correct Answer Incorrect Answer
    D July 20, 2015, against government treasury deposits Correct Answer Incorrect Answer
    E December 5, 2000, under the Public Debt Act Correct Answer Incorrect Answer

    Solution

    The GOI Floating Rate Bonds, 2035 (GOI FRB 2035) were issued on January 25, 2005 via private placement with RBI. This issuance was done against the transfer of subordinated debt of IDFC. This mechanism allowed IDFC to transfer its debt obligation, while the government issued floating-rate bonds in return.

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