Kerala govt to borrow Rs 1,000 cr more to meet expenses of October month

Representative Image | File Photo: G Shivaprasad /Mathrubhumi

Thiruvananthapuram: Kerala government will borrow Rs 1,000 crore to meet revenue expenses, which fall in the first leg of October. The borrowing is within the limit prescribed by the union government.

For availing loan, the state government will depend on the auction of bonds issued through the Reserve Bank of India, held on the E-Kuber platform on October 3.

Earlier on September 27, the government had borrowed Rs 1,436 crore. The settlement of that borrowing needs to be completed within 18 years and the interest rate is 7.68 per cent.

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