Mumbai, Oct. 14 -- The Reserve Bank of India (RBI) on Tuesday said that eight states and union territories raised a total of Rs 12,800 crore through the latest state government securities (SGS) auction. The entire notified amount was accepted, with cut-off yields largely in the 6.6%-7.3% range, indicating steady borrowing costs despite an active issuance calendar.

According to the auction results, Bihar and Jammu & Kashmir raised funds at 7.31% for 20-year tenors, while Gujarat secured Rs 1,000 crore at a 7.07% yield for a 9-year bond. Odisha raised Rs 1,000 crore through two tranches, an 8-year bond at 7.08% and a 24-year paper at 7.28%.

Tamil Nadu borrowed Rs 1,000 crore via a 4-year security at 6.58%, marking one of the lowest yields...