RBI may set cut-off yield on 10-year state bonds in 7.74-7.77% band: Report

Indian states will aim to raise an aggregate of 195 billion Indian rupees ($2.38 billion) on Monday through sale of bonds maturing in eight years to 25 years.

The Reserve Bank of India may set cut-off yields for the 10-year bonds in the 7.74%-7.77% band, according to a Reuters poll of 14 traders.

Note Quantum (in bln Median Min Max

rupees)

8-year 40 7.71% 7.67% 7.75%

10-year 66 7.74%-7.77% 7.72% 7.80%

12 year-25 year 89 7.78%-7.82% 7.75% 7.90%

($1 = 81.7650 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia and Arsh Tushar Mogre; Editing by Neha Arora)