RBI cash-drain faces weak response, bonds remain flat

RBI cash-drain faces weak response, bonds remain flat. Trading in Indian government securities remained subdued after the Reserve Bank of India's variable rate reverse repo auction saw tepid participation, signaling liquidity concerns. The auction for ₹1.0 trillion saw lower-than-expected absorption, raising worries over market liquidity. Yields on the 10-year benchmark bond hovered near 7.13%, reflecting cautious sentiment.

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