Govt. to raise ₹13,562 crore through OMBs this quarter
The Hindu
First instalment of ₹1,187 crore to be raised on Jan. 4 through RBI’s core banking solution system
The State government has decided to depend on open market borrowings (OMBs) for the fourth quarter of the current financial year to meet its financial requirements and commitments on welfare programmes.
The government has indicated that it will raise ₹13,562 crore State development loans through auction of securities to be conducted by the Reserve Bank of India during the last quarter (January-March). The first instalment of OMB of ₹1,187 crore will be raised on January 4 through RBI’s core banking solution (e-Kuber) system.
The government, according to the indicative calendar of market borrowings by State governments or Union Territories for the quarter January-March released by the RBI, has decided to raise ₹8,000 crore in four instalments of ₹2,000 crore, in addition to ₹1,187 crore on January 4, ₹1,500 crore each on February 28 and March 15 and ₹1,375.15 crore on March 29.
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