New Delhi, Nov. 26 -- State borrowing through state development loans (SDLs), which had briefly eased in October after a surge earlier in the year, rose again in November as several major states returned to the market with large auctions, according to the latest Reserve Bank of India (RBI) data.

The reversal marks a sharp year-on-year swing. States borrowed Rs.65,827 crore in November, compared to Rs.55,006 crore a year ago and Rs.56,000 crore in October, indicating that fiscal pressures have intensified as the calendar year draws to a close. States mobilized Rs.84,842 crore in October 2024.

Between April and November (8MFY26), states raised Rs.5.08 trillion against a scheduled Rs.7.39 trillion for the period according to the borrowing ...