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Business & Finance

India central bank rejects 10bn rupees of bids in 2023 bond sale

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By Muhammad Iqbal
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imageMUMBAI: India rejected 10 billion rupees of bids at the 10-year benchmark 2023 bond sale on Friday, television channel ET Now said, citing government sources.

The government received bids worth 127 billion rupees at the auction, they said.

The Reserve Bank of India set higher-than-expected cut-off yields on most of the bonds on sale, but did not specify the amount accepted at the auction in a departure from its usual process.

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