RBI to infuse Rs 12k cr next week

The Reserve Bank of India (RBI) announced an auction under Open Market Operations (OMOs) to purchase Rs 12,000 crore of government bonds on Tuesday. The government today raised Rs 7,000 crore under the new 10-year benchmark bond at a coupon rate of 8.15 per cent.

Issuance’s in the previous benchmark carrying a coupon rate of 8.79 per cent had reached Rs 83,000 crore and the market was already using the bond maturing in 2024 as the next best alternative.

RBI also auctioned Rs 3,000-crore worth of bonds maturing in 2018, another Rs 3,000-crore worth of bonds maturing in 2030 and Rs 2,000-crore worth of bonds maturing in 2036.

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