States are shelling out more for debt funds, with the weighted average cost for their debt auctions hardening by 9 basis points to touch 7.24 per cent, according to reports.
The cost has gone up by 9 basis points (bps) as compared to the previous week.
The weighted average cut-off for states' 10-year debt auctions has hardened by 9 bps to 7.24 per cent at today's auctions, yet overall down by 12.3 per cent on annualised basis, stated Icra chief economist Aditi Nayar.
While 12 states raised Rs. 21,200 crore, which is 6 per cent higher than the indicated level for this week.
(With inputs from PTI)
