Business News | State Borrowing Reach Rs 45,960 Crore in the Latest RBI SGS Auction
Get latest articles and stories on Business at LatestLY. Among the participating states, Andhra Pradesh has raised Rs 3,000 crore through three securities with tenors of 13, 15 and 17 years. Arunachal Pradesh has raised Rs 190 crore with a 20-year tenor, while Assam has borrowed Rs 900 crore through a 15-year security. Delhi has raised Rs 1,000 crore via a 10-year security. Gujarat has raised Rs 2,000 crore through two securities with tenors of seven years and six months, and 11 years, with an additional borrowing option of Rs 500 crore for each.
New Delhi [India], March 10 (ANI): The Reserve Bank of India (RBI) today announced that multiple state governments have raised a total of Rs 45,960 crore through the auction of State Government Securities (SGS).
Among the participating states, Andhra Pradesh has raised Rs 3,000 crore through three securities with tenors of 13, 15 and 17 years. Arunachal Pradesh has raised Rs 190 crore with a 20-year tenor, while Assam has borrowed Rs 900 crore through a 15-year security. Delhi has raised Rs 1,000 crore via a 10-year security.
Gujarat has raised Rs 2,000 crore through two securities with tenors of seven years and six months, and 11 years, with an additional borrowing option of Rs 500 crore for each. Haryana has issued securities worth Rs 3,000 crore across tenors of four, 12 and 18 years. Meanwhile, Jammu and Kashmir has borrowed Rs 900 crore with a 15-year tenor.
Karnataka is the largest borrower in the auction, raising Rs 10,000 crore through a mix of fresh securities and re-issues. These include re-issuances of the 7.31 per cent Karnataka SGS 2033, 7.38 per cent Karnataka SGS 2034, and 7.48 per cent Karnataka SGS 2037, along with other securities.
Other states participating in the auction include Kerala, which has raised Rs 1,000 crore through a 23-year security, and Madhya Pradesh, which has borrowed Rs 5,800 crore through securities with tenors of 10, 14 and 21 years.
Smaller issuances include Rs 120 crore by Mizoram with a 15-year tenor and Rs 250 crore by Sikkim with a 10-year tenor.
Punjab has raised Rs 2,000 crore through the re-issue of the 7.62 per cent Punjab SGS 2032, originally issued in November 2022. Tamil Nadu has raised Rs 8,000 crore through a combination of fresh issuances and re-issued securities, including the 7.23 per cent Tamil Nadu SGS 2033 and the 7.63 per cent Tamil Nadu SGS 2056.
Additionally, Tripura has borrowed Rs 800 crore through a 15-year security, while Uttar Pradesh has raised Rs 3,500 crore via the re-issue of securities maturing in 2037, 2041 and 2046. West Bengal has raised Rs 3,500 crore through securities with tenors of 18 and 22 years. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)