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May 18, 2018 05:05 PM IST | Bonds

India has no plans to cancel bond auctions despite spike in yields

The RBI failed to sell all the debt it offered to bidders at the last four auctions in a row, which has given rise to concerns in the government that aims to borrow a total 6.05 trillion rupees ($89.87 billion) in the current fiscal year that started in April.
Finance ministry officials have asked the central bank to re-issue older bonds that are widely held by market participants, and shorter tenure bonds to ensure auctions go through smoothly
Indian bonds weakened to multi-year lows as global crude oil prices surged and local inflation data came in higher than expected.
Published Date: May 18th, 2018 05:05 PM | Updated Date: May 18, 2018 05:05 PM IST

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