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The Reserve Bank of India will auction bonds worth Rs 1,30,000 crore in the third quarter of the current fiscal on behalf of the Government.
"The RBI, in consultation with the Government of India, after reviewing the cash position of the Government of India, has decided to notify the amounts (worth Rs 1,30,000 crore) for the issuance of Treasury Bills for the quarter ending December 2012," the central bank said in a release.
The bond markets responded favourably to the news as the new borrowing programme indicated that the Government will stay close to its budgeted borrowing limit of Rs 5,70,000 crore in the current fiscal.
In the first half of the current fiscal, the RBI (on behalf of the Government) has raised Rs 3,70,000 crore through bond auctions.
Yields on the 10-year-benchmark, 8.15 per cent Government security softened to 8.11 per cent in opening trade today. Yields were firm at 8.16 per cent on Thursday.
>satyanarayan.iyer@thehindu.co.in
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