The Reserve Bank of India (RBI) will conduct an auction of State Government Securities (SGS) on February 24, aggregating Rs 44,550 crore, according to an official notification issued by the central bank.

As many as 16 State Governments - Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Uttar Pradesh and West Bengal- are set to raise funds through a mix of fresh issuances and re-issues.