Centre to borrow Rs.1.56 lakh cr in Q2

The government has drawn up plans for borrowing a total of Rs.1.56 lakh crore through auction of treasury bills during the July-September quarter of the current fiscal.

According to a Finance Ministry statement here on Saturday, the government, in consultation with the Reserve Bank of India (RBI), has decided to notify amounts for the issuance of T-Bills for the quarter ending September, 2013, following a review of its cash position.

As per the auction calendar, the government will raise Rs.12,000 crore on every Wednesday each week starting July 3 till September 25, to mop up a total amount of Rs.1.56 lakh crore during the second quarter of 2013-14.