Economy · India
RBI Rejects All Bids in Treasury Bill Auction
The Reserve Bank of India (RBI) rejected all 224 bids submitted in a treasury bill auction. Bond market players attributed the rejection to a tight fund-flow situation in the system, a high government balance, Goods and Services Tax (GST) related outflows, and funds being blocked in the Jio Platforms IPO. Bidders sought higher rates, but the RBI was reportedly reluctant to pay them.
How outlets across the spectrum covered it
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- Centre (3): Business Standard, The Financial Express, The Times of India
- International (1): Bloomberg