Govt issues $2.3 bln oil bonds to state firms

NEW DELHI (Reuters) - The government on Friday issued bonds worth 92.97 billion rupees ($2.33 billion) to state oil firms to partly compensate them for selling fuel at state-set prices.

A finance ministry statement said bonds would be issued to Indian Oil Corp, Bharat Petroleum Cor, Hindustan Petroleum Corp and ONGC.

The bonds would not be eligible for meeting statutory liquidity reserve requirements of banks.