 "Focus on sustainability of agriculture, not loan waivers, says RBI")
Benchmark 10-year bonds rallied from near a three-month low after the central bank said it will buy longer-tenor bonds while selling shorter debt in a move reminiscent of the US Federal Reserve’s Operation Twist.
The Reserve Bank of India will buy 100 billion rupees ($1.4 billion) of the 6.45 per cent 2029 debt and sell an equal amount of notes maturing next year in an auction on Monday, it said in a statement.
The yield on the 2029 debt dropped as much as 15 basis points to 6.60 per cent, the most in more than two months. The 7.57 per cent 2033
