Public sector enterprises have stepped up their borrowing from the bond market and are raising money at rates cheaper than what the states are getting their funds for. On Wednesday, the National Highways Authority of India (NHAI) priced its 19-year bonds at 7.10 per cent. It raised Rs 6,000 crore.
Some states are raising 10-year money at this rate, auctions conducted by the Reserve Bank of India (RBI) shows. In the government bond market space, however, yields have started climbing rapidly. The 10-year bond yields closed at 6.13 per cent, after hitting below 6 per cent last week on ...
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