The Reserve Bank of India has said that the indicative quantum of total market borrowings by the State Governments and the Union Territory of Puducherry for January-March quarter is expected to be in the range of "Rs 60,000 crore to Rs 65,000 crore''.

The amount will be raised through the auction of State Development Loans (SDLs) conducted generally on alternate Tuesdays.

In a statement, RBI said it would endeavour to conduct the auctions in a calibrated manner and distribute the borrowings evenly throughout the quarter.