Borrowing cost for States spurts to 7.02%
The Hindu
The spike is surprising as seven of the nine States did not participate in the auctions
For the first time this fiscal, the weighted average cost of States’ market borrowings crossed the 7% mark at auctions held on Monday, with the average cut-off jumping by 12 bps to 7.02%.
The spike is surprising as seven of the nine States did not participate in the auctions after the States got the last week, Icra chief economist Aditi Nayar said.
At 7.02%, the State developmental loan cut-off is the highest this fiscal.
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