Table: Gross Issuance and Spread of SDLs over Corresponding Tenor of GoI Securities  Year  Gross Borrowing of States (in ` Cr)  YoY Growth per cent  Gross Borrowing of GoI (in ` Cr)  YoY Growth per cent  2014-15  240,842  22  5,92,000  5  2015-16 2016-17 2017-18  294,560 381,979 419,100  22 30 10  5,85,000 5,82,000 5,88,000  -1 -1 1  Weighted average YoY of SDL Growth spread per over GoI cent (bps) 38 49 50 60 59  32 20 -2  ii.
Second, I will outline areas where regulators and researchers can work to fill in gaps in our understanding or in the data available to monitor conditions, especially conditions outside the banking sector.