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India's RBI says states to raise up to 400 bln rupees by Sep-end
July 2, 2012 / 12:08 PM / 5 years ago

India's RBI says states to raise up to 400 bln rupees by Sep-end

MUMBAI, July 2 (Reuters) - Indian states, including the
union territory of Puducherry, are scheduled to raise 360-400
bln rupees ($6.5-$7.2 billion) during July-Sept through market
borrowing, the Reserve Bank of India said on Monday.
    "It is expected that release of such indicative advance
schedule of SDLs (state development loans) would largely meet
such demand of the market participants and help the state
governments to mobilize resources in a more cost effective
manner," the central bank said in a statement.
    The RBI is expected to conduct these auctions on alternate
Tuesdays, it said.
   ($= 55.4 rupees)  

 (Reporting by Neha Dasgupta; Editing by Anand Basu)

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