Govt. to raise another ₹1,500 crore from RBI
The Hindu
This takes total borrowing in current third quarter to ₹6,000 crore
The State government has decided to raise open market borrowings of ₹1,500 crore from the Reserve Bank of India, taking the total borrowing in the current third quarter to ₹6,000 crore against the targeted ₹6,295 crore.
The amount would be raised through auction of State government securities being conducted on Tuesday. The auction would be conducted on the RBI’s core banking solution e-Kuber system. Government stock up to 10% of the notified amount of sale of each stock would be allotted to eligible individuals and institutions, subject to a maximum limit of one per cent of the notified amount for single bid per stock as per the scheme for non-competitive bidding facility, the RBI said.
The State government has already raised ₹4,500 crore in three tranches during the current quarter – ₹1,500 crore on October 5, ₹2,000 crore on November 1 and ₹1,000 crore on November 16.
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