RBI pegs state govt market borrowing for July-Sept at Rs 2.1 trillion

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

Market borrowing by state governments in July-September has been pegged at Rs 2.12 trillion rupees, the Reserve Bank of India said on Friday.

“The actual amount of borrowings and the details of the States/UT (Union Territories) participating would be intimated by way of press releases 2-3 days prior to the actual auction day and would depend on the requirement of the State Governments/UTs, approval from the Government of India under Article 293(3) of the Constitution of India and the market conditions,” the RBI said.

The RBI will endeavour to ensure that the state bond auctions are conducted in a non-disruptive