R Gopalan, economic affairs secretary announced yesterday that the government's borrowing in the second half of the fiscal year would be Rs 528 billion, higher than had been budgeted in February. India will now borrow Rs 2.2 trillion (USD 44.9 billion) in the second half of the fiscal year that begins on Oct 1. The benchmark 10-year bond yield spiked 8 basis points to 8.43% immediately after the announcement.
RK Bakshi, executive director of Bank of Baroda and Nitin Jain, managing director and co-head of fixed income at Nomura, in an interview to CNBC-TV18, gave their views on the borrowing programme will impact the bond market. Below is the edited transcript of the interview. Also watch the accompanying video. Q: The bond market reacted with 10 basis point hike in the yield curve after yesterdayDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
