India confident of keeping 2021-22 borrowing costs below 6% levels: sources
While the Reserve Bank of India kept rates at record lows and pledged to provide liquidity to keep markets orderly, investors were disappointed by the lack of clarity about such support with no bond purchase calendar published. He added that the government's long-term average borrowing cost is expected to be between 5.8%-5.9% in the fiscal year starting April. Amid the wider market ructions on Friday, the central bank sold only 90 billion rupees of bonds versus 310 billion it had set out to sell, with underwriters buying 88.1 billion rupees worth of the paper, after the market demanded...