Open Market Borrowings

Sovereign bonds have already rallied in recent weeks, boosted by a reduction in short-term borrowings

State-owned Indian Renewable Energy Development Agency Ltd's (IREDA) board on Thursday approved a proposal of Rs 24,200 crore borrowing for 2024-25. The borrowing includes fundraising through bonds, perpetual debt instruments (PDI), term loans, commercial papers, and external commercial borrowings (ECB), a regulatory filing said. According to the filing, the Board of Directors, in its meeting held today -- Thursday, March 28, 2024 -- inter-alia has approved the borrowing programme of up to Rs 24,200 crore for FY 2024-25. Further, the Ministry of New & Renewable Energy (MNRE) vide office order dated March 27, 2024, has conveyed the Order of Appointments Committee of the Cabinet (ACC) dated March 15, 2024, regarding entrustment of additional charge of the post of Director (Technical), IREDA, to Bijay Kumar Mohanty, Director (Finance), IREDA, for a period of 6 (six) months from March 5, 2024, or till the appointment of regular incumbent, or until further orders, whichever is the ...

Actual borrowings and state-wise breakup will be intimated 2-3 days prior to auction day; RBI to try and ensure auctions are held in non-disruptive manner considering mkt conditions

Large borrowing states not coming to the market or drawing down less than indicated amounts

Permission granted on meeting of one-nation-one-ration card reform

India's debt to GDP ratio has increased from Rs 58.8 trillion (67.4 per cent of GDP) in the financial year 2011-12 (FY12) to Rs 146.9 trillion (72.2 per cent)

Seven state governments had lined up to borrow Rs 9,000 crore, but ended up borrowing Rs 12,000 crore from the markets because of the cheap rates.

The ministry said that the Centre has decided to permit states to raise open market borrowing on the basis of 50 per cent the Net Borrowing Ceiling fixed for the year 2020-21

The amount that the states have been given permission to raise through open market borrowings is a little more than Rs 3.2 trillion.

The central bank had planned to buy up to Rs 10,000 crore of 10-year bonds and sell up to Rs 10,000 crore of four short-term bonds

Till now, states were required to obtain quarterly consent from the Centre for raising OMBs