India to borrow 6.29 trln rupees this FY-Bloomberg citing sources

Last Updated: Tue, Sep 17, 2013 10:09 hrs

India will keep to its gross borrowing goal of 6.29 trillion rupees for the current fiscal year, Bloomberg reported on Tuesday, citing two unnamed finance ministry sources.

The government will announce the fiscal second-half borrowing that begins in October on Sept. 23, the report said.

Separately, two sources told Reuters that Sept. 23 was a tentative date for the announcement of the borrowing calendar.

Yields rose on doubts whether the government will now go ahead with an announced 500 billion rupees debt switch which would reduce the gross supply by an equivalent amount. If not, it would mean an incremental supply of 500 billion rupees, dealers said.

The 10-year yield rose 5 basis points to 8.43 percent after the report.

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