Govt raises ₹2,000 crore market borrowings for meeting financial commitments
The state government raised ₹2,000 crore through the reissue of state securities to meet immediate financial commitments. The funds were secured via an RBI auction at an interest rate of 7.7%.
Why it matters
State-level borrowing strategies reflect the fiscal health and debt management priorities of regional governments.
The State government has raised market borrowings of ₹2,000 crore to meet its immediate financial commitments.
The amount has been raised in three tranches, ₹1,000 crore and ₹500 crore each, through price auction of State government securities by the Reserve Bank of India at an interest rate of 7.7%. The amount, according to RBI, is the reissue of securities of July 1 which had been kept on hold. The reissue follows the fresh indent submitted by the State government.
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