Public sector banks pay for the rupee war

.....On manic Friday, the RBI had to set the yields on the most popular government paper the 10-year ones, at 8.74 per cent, which is 53 basis points more than the previous auction — yet 8 per cent of the papers went unsold. The choice for the public sector banks and their owner, the government, is now to make provision for these losses and book it to the public, the taxpayers......

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