India sells cash management bills at lower-than-expected cut-off yields

India sold Rs 2195 crore of 28-day cash management bills, lower than a target of 30 billion rupees, at a cut-off price of Rs 99.15 , yielding 11.17%.

A Reuters poll had expected the cut-off yield at 11.28%.

India sold Rs 3000 crores of 56-day cash management bills at a cut-off price of Rs 98.31 , yielding 11.2045%, lower than the poll estimate of 11.38%.