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India has no plans to cancel bond auctions despite spike in yields: finance ministry source

Reuters  |  NEW DELHI 

(Reuters) - is unlikely to cancel a despite a spike in yields as it does not want to trigger panic in financial markets, a senior finance ministry said on Friday.

The said the will engage with primary dealers and tweak the issuance basket to ensure auctions go smoothly.

Earlier this week, Indian bonds had weakened to multi-year lows, as global surged and the local inflation print came in higher than expected.

(Reporting by Neha Dasgupta; Editing by Sam Holmes)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 14:32 IST