What changed
RBI published the indicative calendar for state government market borrowings for the quarter July-September 2026, with total expected borrowings of ₹3,18,816 crore. The calendar provides scheduled auction dates and amounts for BIS and non-BIS states.
What it means for you
Banks can align their treasury operations with state borrowing schedules, anticipating liquidity pressures or opportunities. It aids in managing SLR portfolios and pricing state development loans.
What you must do
- Review the calendar to plan liquidity and investment in state government securities.
- Adjust treasury strategies for expected state borrowing volumes in Q3.
- Monitor auction dates to optimize bidding and portfolio yields.
Who it affects
Treasury departments of banks, Primary dealers, State government finance departments, Institutional investors in state bonds
What is the purpose of this calendar?
It provides a schedule for state government borrowings to help market participants plan their liquidity and investment decisions.
Does the calendar include borrowing amounts?
Yes, the total expected borrowings for the quarter are ₹3,18,816 crore, though actual amounts per auction are announced later.
How does this affect banks?
Banks can anticipate state bond supply, manage SLR compliance, and adjust pricing for state development loans.