Mumbai: The Reserve Bank of India (RBI) announced on Friday that the state governments and Union Territories are expected to raise Rs 2,81,865 crore through market borrowings during the October-December quarter of the current financial year.

Tamil Nadu is among the highest borrowers with plans to raise Rs 39,000 crore during the quarter.

Uttar Pradesh, the country’s largest state, has indicated that it intends to borrow a total of Rs 33,000 crore in 11 auction rounds of Rs 3,000 crore each, while West Bengal is said to borrow Rs 29,000 crore.

Gujarat has indicated that it plans to raise Rs 20,000 crore through market borrowings in the current quarter, while neighbouring Rajasthan plans to borrow Rs 14,455 crore.

Trinamool Congress-ruled West Bengal has informed the RBI that it plans t

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