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RBI Rejects Debt Bids, Boosts Government Bond Yields

11/1/2025

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Summary

Story summary

The Reserve Bank of India rejected bids at a debt auction, driving Indian government bonds higher and sending the 10-year yield to 6.53%.
This marked the RBI's first rejection of 2032 bond bids since June, while foreign investors bought 130.8 billion rupees in October, the highest since March.
Analysts say inflows reflect rate-cut expectations and relatively high yields, and they expect the 10-year yield to stabilize near 6.58%.

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Story summary

The Reserve Bank of India rejected bids at a debt auction, driving Indian government bonds higher and sending the 10-year yield to 6.53%.
This marked the RBI's first rejection of 2032 bond bids since June, while foreign investors bought 130.8 billion rupees in October, the highest since March.
Analysts say inflows reflect rate-cut expectations and relatively high yields, and they expect the 10-year yield to stabilize near 6.58%.