Reserve Bank of India governor Raghuram Rajan may not have given in to calls of an interest rate cut, but by transferring about Rs. 53,000 crore surplus to the government, up two-thirds from previous year, he may have ensured that rates do not rise. On Monday, the ten-year new benchmark bond yields fell about five basis points to 8.60%, prompting some amount of bullishness. Bond yields and prices move in opposite direction........
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