Home / Business and Economy / RBI Raises Rs 34,000 Cr Via New 10-Year Bond
RBI Raises Rs 34,000 Cr Via New 10-Year Bond
8 May
Summary
- RBI issued a new 10-year government bond, raising Rs 34,000 crore.
- The bond was sold at a cut-off yield of 6.94%, meeting market expectations.
- Bids for the new security surpassed Rs 1 lakh crore, indicating strong demand.
The Reserve Bank of India (RBI) recently concluded an auction for a new 10-year government security, successfully raising Rs 34,000 crore. The issuance achieved a cut-off yield of 6.94%, which was in line with market expectations. Investor demand was notably strong, with total bids reaching Rs 1.02 lakh crore.
This new 10-year government paper is set to establish itself as the benchmark security. Consequently, it will influence corporate borrowing costs and shape overall interest rate trends across the market. The strong demand underscores investor confidence in the RBI's issuance.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
