Five states exceed borrowing plan, raise ₹16,900 crore at auction

State borrowing exceeds calendar estimate at weekly auction, with five states raising Rs 16,900 crore and SDL yields set at 7.64 per cent

Five states borrowed Rs 16,900 crore at the weekly state bonds auction on Tuesday, against Rs 7,900 crore indicated in the borrowing calendar. States and Union Territories had borrowed Rs 12,700 crore during the previous week.

 

The cut-off yield on 10-year SDLs was set at 7.64 per cent. The yield spread between state development loans (SDLs) and the 10-year government bond stood at 76 basis points.

 

States and Union Territories plan to borrow up to Rs 2.54 trillion through state government securities in the first quarter of the current financial year.