Mumbai, July 15 -- Twelve Indian states and union territories collectively raised Rs 26,900 crore through a yield-based auction of state government securities held on 15 July 2025, as per data released by the Reserve Bank of India. The auction saw full subscription across all participating states, with cut-off yields ranging from 6.13% to 7.19%, reflecting steady investor interest across various tenors.

Maharashtra emerged as the largest borrower, mobilizing a total of Rs 6,000 crore through four separate issuances of Rs 1,500 crore each. The state tapped long-dated bonds ranging from 22 to 25 years, with cut-off yields progressively increasing from 7.12% to 7.16%, suggesting investors demanded a premium for longer duration exposure.

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