 "reserve bank of india, rbi")
Borrowing costs for companies in the Indian rupee bond market are surging after the nation’s central bank unveiled measures to drain cash it had infused into the financial system to counter the impact of the pandemic.
Average yields on three-year rupee bonds rated BBB have risen 28 basis points this week through Thursday, on track for their biggest weekly increase since 2018, according to data compiled by Bloomberg. Borrowing costs for top-rated issuers have climbed by a similar amount, but they generally have greater access to funding than weaker peers.
The surge comes after the Reserve Bank of India announced plans last
