ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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CONTRACEPTIVES-Case for Public Enquiry

bills. During the last two years, there has occurred a sharp change in the interest rate structure on market loans and various types of treasury bill borrowings (91-day, 182-day and 364-day). In the case of market loans, not only have yield rates been pushed up but the maturity period of the loans has been drastically narrowed from the erstwhile maximum of 20 yean to 10 years in the case of both the state and central governments. The yield rates on central government securities were drastically pushed up from 10.73 per cent in 1991-92 (first tranche) to 13.5 per cent in 1993-94 for 10-year securities. In fact, 20-year securities had been issued in 1991-92 at a yield of 11.50 per cent. While these sharp increases were effected in yield rates, the spread as between different maturities starting from three years up to 10 yean was kept at a minimum

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