The government will borrow additional Rs1.1 trillion ($22.6 billion) before the end of the first half of the fiscal that began on 1 April, a Reserve Bank of India (RBI) deputy said on Thursday, sending bond yields lower as the figure was les than the market expectation. Shyamala Gopinath told reporters that the borrowing would be done in 10 tranches and for this, a calendar would be published later today.
The government so far has borrowed Rs 1.8 trillion in the fiscal year 2009-10. Gopinath said the central bank would continue to buy back government bonds from the market, depending on liquidity conditions. It has so far bought back Rs29,850 crore in the fiscal year and the target was Rs80,000 crore.
The government so far has borrowed Rs 1.8 trillion in the fiscal year 2009-10. Gopinath said the central bank would continue to buy back government bonds from the market, depending on liquidity conditions. It has so far bought back Rs29,850 crore in the fiscal year and the target was Rs80,000 crore.
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