India Lowers T-Bill Sales After Tepid Response to Debt Buybacks
- Government to sell 720 billion rupees of bonds this quarter
- That’s 600 billion rupes lower than previous bill-sale plan
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India plans to lower short-term borrowings in the current quarter after the recent bond buybacks saw limited interest from the market.
The government will sell treasury bills worth 720 billion rupees ($8.6 billion) in the six weeks till June end, the Reserve Bank of India said in a statement Friday. That’s 600 billion rupees lower than the previous plan.