labels: RBI
Government cancels sale of Rs10,000 crore bonds news
10 October 2008

The Reserve Bank of India has announced the cancellation of an auction of government bonds worth Rs10,000 crore amidst signs of a worsening liquidity problem.

''Having regard to the current liquidity conditions and other relevant factors, the Government of India, in consultation with the Reserve Bank of India, has decided to cancel the above auctions scheduled for 10 October 2008 for the present. RBI said in a statement.

The RBI had, earlier, announced the sale of a new six-year government stock for Rs6,000 crore and sale of 7.95 per cent government stock 2032 worth Rs4,000 crore on 10 October. Both auctions have been cancelled.


 


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Government cancels sale of Rs10,000 crore bonds