An email sent to the RBI seeking comment for the story remained unanswered till press time. In an unexpected step, RBI Governor Shaktikanta Das said on October 6 that the central bank would hold open market bond sales to drain out excess liquidity in the banking system. The yield on the 10-year benchmark government bond has since climbed as much as 16 basis points to a seven-month high of 7.38%, inflating borrowing costs for the Centre, and corporates.
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