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State Bank of India issued 20,000, 6% De...

State Bank of India issued 20,000, 6% Debentures of Rs.50 each at a premium of 8% on June 30, 2010 redeemable on June 30, 2018. The issue was fully subscribed. Record necessary entries for issue and redemption of debentures.

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Notes : (1) As per Section 71 (4) with rule 18 (7) a Banking Company is not required to create Debenture Redemption Reserve.
(2) A Company which is not required to create DRR is exempted from Investing 15% amount also.
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