States raise Rs 25,000 crore in SGS auction, cut-off yields near 7.4 pc: RBI

States raise Rs 25,000 crore through SGS auction held on September 23, with cut-off yields largely in the range of 7.26-7.45 per cent, according to the Reserve Bank of India. Telangana was a large borrower, raising a total of Rs 5,000 crore through four tranches of 22 to 26 years maturity.

States mobilised Rs 25,000 crore through the auction of State Government Securities (SGS) held on September 23, with cut-off yields largely in the range of 7.26-7.45 per cent, according to the Reserve Bank of India (RBI).

Bihar, Chhattisgarh, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Telangana and West Bengal were among the participating states. The notified total amount for the auction stood at Rs 27,000 crore, while the total allotment amounted to Rs 25,000 crore.