State govt market borrowings for Q2 estimated at ₹2.11 lakh-crore: RBI

The quantum of total market borrowings by the state governments/Union Territories for July-September, is expected to be ₹2,11,552 crore, the Reserve Bank of India (RBI) said on Friday (July 1).

In a press release, RBI also announced the weekly schedule of auctions to be held during the quarter along with the name of States/UTs who have confirmed participation and tentative amounts indicated.

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The proposed auction dates are July 5, 12, 19, 26; August 2, 8, 18, 23, 29; and September 6, 13, 29, and 27, according to RBI.

On July 5, the expected quantum of borrowing is ₹13,000 crore with Andhra Pradesh, Assam, Gujarat, Himachal Pradesh, Punjab, Tamil Nadu, Telangana, and West Bengal confirming their participation.

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“The actual amount of borrowings and the details of the States/UTs participating would be intimated by way of press releases two/ three days prior to the actual auction day and would depend on the requirement of the State Governments/UTs, approval from the Government of India under Article 293(3) of the Constitution of India and the market conditions,” the central bank said.

“RBI would endeavour to conduct the auctions in a non-disruptive manner, taking into account the market conditions and other relevant factors and distribute the borrowings evenly throughout the quarter. RBI reserves the right to modify the dates and the amount of auction in consultation with State Governments/UTs,” it added.