RBI auction results: States raise ₹23,016.418 crore through securities
State governments raised ₹23,016.418 crore through yield- and price-based auctions of securities, according to the Reserve Bank of India.
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Key facts
- Total accepted amount across states was ₹23,016.418 crore.
- Total amount to be raised by states was ₹24,000 crore.
- Andhra Pradesh did not accept any amount in its re-issue.
- Punjab accepted a partial amount of ₹316.418 crore.
According to the Reserve Bank of India, state governments accepted bids totalling ₹23,016.418 crore against a total notified amount of ₹24,000 crore in the latest yield- and price-based auction of State Government Securities.
Among individual states, Andhra Pradesh did not accept any amount for its re-issued security, while Punjab accepted a partial amount of ₹316.418 crore for one of its re-issued securities.
Why it matters
State government securities auctions determine the borrowing costs for states seeking funds from the market. For investors, particularly institutional participants such as banks and mutual funds, the yields and cut-off prices established in these auctions signal prevailing interest rates and state-level debt demand. The accepted amounts and yields reflect how much states must pay to borrow, directly influencing debt management strategies and overall fixed-income market conditions across India.
- Economy
- RBI
Sources
Source: Reserve Bank of India