Reserve Bank of India accepts no bids for 6.84%, 7.17% bonds

By Sarah Lizee

Olympia, Wash., Feb. 2 – The Reserve Bank of India did not accept any bids for its reissue of 6.84% government stock due 2022 or its reissue of 7.17% government stock due 2028 at auction on Friday, according to a government announcement.

The bank auctioned Rs. 30 billion of 6.84% bonds. There were 72 competitive bids received for Rs. 91.39 billion and two noncompetitive bids received for Rs. 40 million.

The bank also auctioned Rs. 80 billion of 7.17% bonds. There were 165 competitive bids received for Rs. 164.21 billion and five noncompetitive bids received for Rs. 75 million.

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