Bonds India may not cancel bond auctions despite spike in yields Updated : May 18, 2018 03:16 PM IST India's government is unlikely to cancel a bond auction despite a spike in bond yields as it does not want to trigger panic in financial markets, a senior finance ministry official said on Friday. The official said the Reserve Bank of India will engage with primary dealers and tweak the bond issuance basket to ensure auctions go smoothly. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.