RBI’s Battle to Contain Yields Gets Tougher on Modi Budget Spree

Even after the Reserve Bank of India cut rates more than 1 percentage point and pumped record amounts of cash into the economy, investors are refusing to push down bond...

By Subhadip Sircar, Pratigya Vajpayee · Bloomberg Markets

Even after the Reserve Bank of India cut rates more than 1 percentage point and pumped record amounts of cash into the economy, investors are refusing to push down bond yields. As the RBI readies another policy decision this week, they’re keen to see how Governor Sanjay Malhotra tackles the challenge.