What is a back-to back loan ?
A-back-to back loan is a loan agreement between entities in two countries in which the currencies remain separate, but the maturity dates remain fixed. The gross interest rate of the loan is separate as well and set on the basis of commercial rates in place when the agreement is signed.
Remaining tabs such as introduction, procedure etc. will be remained unchanged. Copy of statement 07 and statement 18 have been enclosed herewith. This information is being given to update loan accounts tab of the official website.
What is Public Debt?
The Government introduces from time to time several programmes of Socio-economic development which aim at increase in production, better utilization of various assets created in the past as also meeting the minimum social and economic requirements of the population, and in particular, of the weaker sections of the Society. For achieving these objectives, it is necessary for State Government to borrow huge funds. This borrowing of funds by State Government is called Public Debt.