 "RBI")
The Reserve Bank of India will likely set a cutoff yield of 7.23 per cent on 130 billion rupees ($1.63 billion) of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll of 11 traders.
India's federal government is also selling 40 billion rupees of a 6.69 per cent 2024 bond, 70 billion rupees of a 7.10 per cent 2029 bond and 90 billion rupees of a 6.95 per cent 2061 bond.
The RBI will likely sell the 2024 bond at a 6.54 cent yield, while it will sell the 2029 bond at a 7.15 per cent yield, according to the poll. The central bank is expected to sell the 2061 bond at a 7.62 cent yield.
Explained: What are RBI's new norms for digital lending in India?
The cutoff estimates for the 2024 bond were between 6.51 per cent and 6.56 per cent, while those for the 2029 note were between 7.14 per cent and 7.16 per cent.
The estimates for the new 2032 10-year bond were between 7.21 per cent and 7.26 per cent, while those for the 40-year paper were between 7.60 per cent and 7.63 per cent.
Also Read
The government has a greenshoe option to retain an additional 20 billion rupees on each security.
($1 = 79.7500 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
