The State government has raised a whopping ₹17,000 crore in open market borrowings in the first month of the 2024-25 financial year itself.
On April 2, the State government raised an amount of ₹4,000 crore in open market borrowings. Since then, the government has raised a further ₹13,000 crore, and is now planning to raise a further ₹2,000 crore, according to information. The Reserve Bank of India (RBI) will reportedly take up the auction process through its core banking solution e-Kuber platform on May 21.
According to information, the State government has offered to sell stock by way of auction and raise ₹2,000 crore, the repayment for which will be between 17 and 20 years.
