Mumbai, Oct. 20 -- State borrowings during Q2-FY26 were at Rs 2.66 lakh crore, marking a rise of around 32% compared to Q1-FY26. The total borrowing was around 97% of the indicative calendar for the quarter. As the yields moved up, States preferred reissuances, which constituted almost 16% of the total issuances during the quarter. SGS auction cut-off yields moved edged up, resulting in primary market spreads moving to a 7-year high during Q2-FY26.

Published by HT Digital Content Services with permission from Capital Market....