The RBI’s approach to managing yields stands in stark contrast to the clearly defined bond-buying policies of its peers in much of Asia and around the world, leaving investors with more uncertainty.
THE Reserve Bank of India’s (RBI) week-long truce with the bond market will be tested in coming days after Prime Minister Narendra Modi’s government ramped up borrowing, barely two weeks after keeping it unchanged.
Federal authorities will raise an extra 1.1 trillion rupees (US$15bil) on behalf of the states to help with a shortfall in tax revenue, the finance ministry said late Thursday. This will be done via sales of three- and five-year bonds, according to the central bank.
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