Mumbai: In a government switch auction conducted on Monday for a notified amount of ₹25,000 crore, the Reserve Bank accepted about ₹9,296 crore as the yields wanted by market participants may have been higher than the RBI’s comfort level, traders said.
The RBI had initially planned to switch nine securities maturing in FY27 with securities maturing beyond FY 32. In a switch auction, the RBI swaps the outstanding amount in a security with a bond maturing later.
