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Our Banking Bureau
MUMBAI, SEPT 30: The Reserve Bank of India has hiked the coupon on the ten-year state loan by 35 basis points to 12.50 per cent. Twenty-five state governments will raise Rs 3100.28 crore on October 12.
Bihar--which had pulled out from the list of states that raised the first tranche of Rs 5,123.74 crore state loan on April 21--features among the states that will hit the market in the second tranche of borrowing during the current fiscal.
The gap between the coupon on centre and state loans has widened further with the announcement of the second tranche of the state loan on Wednesday. The primary market coupon of an identical maturity in a central government security is pegged at 12.22 per cent--28 basis points lower than the state loan. The 15-year government paper, auctioned this fiscal, carried a coupon of 12.25 per cent.
Uttar Pradesh leads the list of states accessing the market with Rs 500 crore, followed by Bihar (Rs 429 crore), Andhra Pradesh (Rs 400 crore), Rajasthan (Rs 300 crore) and Orissa(Rs 200 crore).
The other states featuring in the list are Arunachal Pradesh (Rs 2.22 crore), Assam (Rs 100 crore), Goa (Rs 8.42 crore), Gujarat (Rs 135 crore), Haryana (Rs 84.28 crore), Himachal Pradesh (Rs 29.09 crore), Jammu & Kashmir (Rs 45.95 crore), Karnataka (Rs 70 crore), Kerala (Rs 120 crore), Madhya Pradesh (Rs 150 crore), Maharashtra (Rs 70 crore), Manipur (Rs 9.28 crore), Meghalaya (Rs 43.08 crore), Mizoram (Rs 14.97 crore), Nagaland (Rs 13.73 crore), Punjab (Rs 100 crore), Sikkim (Rs 24.90 crore), Tamil Nadu (Rs 80 crore), West Bengal (Rs 140 crore) and Tripura (Rs 42.43 crore).
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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