The Tamil Nadu government has raised ₹6,000 crore through bonds of over 20 years, amid an increase in interest rates.
The State borrows from the market through bonds known as State Development Loans (SDLs). At an auction conducted by the Reserve Bank of India on Tuesday, Tamil Nadu reissued SDL, which was issued on February 16, 2022, and raised ₹3,000 crore. The issue had a yield of 7.62% and a tenure of 25 years.