The Telangana Government has decided to raise ₹2,000 crore open market borrowings through auction of securities.
The government has submitted an indent to this effect to the Reserve Bank of India (RBI) which will take up the auction process through its core banking solution e-Kuber platform on March 12. This will take the total borrowings raised by the State, starting from January 16, to ₹10,000 crore during the January-March quarter.
Interestingly, the State Government has projected to raise ₹38,234 crore during the current financial year through market borrowings and other liabilities after the Union Finance Ministry had restricted its borrowings limit. But, the borrowings by the State had crossed ₹36,000 crore mark at the end of December.
