Economy
States plan ₹3.61 lakh crore borrowing from markets in October-December
State governments and Union Territories are expected to borrow ₹3,60,820 crore during October-December 2026 under a published indicative calendar.
What happened
The Reserve Bank of India has released an indicative calendar for state and Union Territory market borrowings in October-December 2026. Expected borrowing totals ₹3,60,820 crore. The Benchmark Issuance Strategy will cover seven additional states and Jammu and Kashmir from the quarter, while actual auction amounts and participating governments will depend on approvals, funding needs and market conditions.
Why it matters
The calendar gives investors greater visibility into state debt supply, while the RBI plans to distribute auctions across the quarter to reduce disruption.
Source: RBI