The Reserve Bank of India, in consultation with the State Governments, announces that the indicative quantum of total market borrowings by the State Governments and the Union Territory of Puducherry, for the quarter January-March 2013, is expected to be in the range of Rs.55,000 crore to Rs.60,000 crore. The amount will be raised through auction of State Development Loans (SDLs) conducted generally on alternate Tuesdays. RBI would endeavour to conduct the auctions in a calibrated manner and distribute the borrowings evenly throughout the quarter. The actual amount of borrowings would be intimated by way of press release two/three days prior to the actual auction day and would depend on the requirement of the State Governments, approval from the Government of India under Article 293(3) of the Constitution of India and the market conditions.

Ajit Prasad

Assistant General Manager

Press Release : 2012-2013/1074

Indicative state market borrowings announced; issuance via SDL auctions calibrated and subject to statutory approval. Indicative market borrowings by State Governments and the Union Territory of Puducherry for January-March 2013 are to be raised through State Development Loan auctions generally on alternate Tuesdays; RBI will conduct auctions in a calibrated manner and distribute borrowings evenly, while actual amounts will be intimated two to three days before each auction and depend on State requirements, statutory approval under Article 293(3) and market conditions.