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of <h1>Government Issues 8.5% Tax-Free SLR Power Bonds Worth 31,633.85 Crore Under Section 10(15) of Income-Tax Act</h1> The Central Government, under the authority of sub-clause (i) of clause (15) of section 10 of the Income-tax Act, 1961, specifies the issuance of 31,63,38,500 '8.5% Tax Free SLR Power Bonds' by the Reserve Bank of India on behalf of State Governments. These bonds, each valued at one thousand rupees, were issued starting from October 1, 2001. They carry an annual interest rate of 8.5% and have a tenure of fifteen years, amounting to a total of 31,633.85 crore rupees.
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