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The Reserve Bank of India (RBI), in consultation with the state governments, announced that the indicative quantum of total market borrowings by the state governments and the union territory of Puducherry, for the quarter January-March 2014, is expected to be in the range of Rs 60,000 crore to Rs 65,000 crore.
The amount will be raised through auction of State Development Loans (SDLs) conducted generally on alternate Tuesdays. RBI would endeavour to conduct the auctions in a calibrated manner and distribute the borrowings evenly throughout the quarter. The actual amount of borrowings would be intimated by way of press release two/three days prior to the actual auction day and would depend on the requirement of the state governments, said RBI.
