The State Government has decided to raise ₹2,000 crore open market borrowings through the auction of securities to be conducted by the Reserve Bank of India on Tuesday.
This takes the total market borrowings during July to ₹5,000 crore as the State has already raised ₹3,000 crore during the two auctions conducted by the RBI on July 4 (₹2,000 crore) and July 11 (₹1,000 crore). The quantum of market borrowings is against the amounts proposed in the indicative calender of borrowings submitted to the Apex Bank for the July – September quarter.
The Government indicated that it would raise ₹3,000 crore during July in two instalments. But Tuesday’s ₹2,000 crore borrowings will take quantum of OMBs much higher with one more auction left in the month.
