FINMIN TO KEEP TABS ON END USE OF TAX-FREE CORE BONDS

Public sector banks that raise funds through tax-free infrastructure bonds will have to show incremental lending to the sector to the extent of funds raised in that year, as government seeks to ensure that money raised actually flows to the infrastructure sector. The special window of tax-free infrastructure bonds will be available to PSBs only on the condition of incremental infrastructure lending, said a finance ministry official.