The benchmark stock indices opened the day on a positive note with gains of around 1%, scaling fresh highs in the process as the post-budget rally continues.
Join us as we track the top business news through the day.
1:00 PM
India confident of keeping 2021/22 borrowing costs below 6% levels – sources
Here’s how much the government expects to pay on its loans.
Reuters reports: “The Indian government is confident that it can obtain funds for its massive 2021/22 borrowing programme at below six percent, as the central bank has given assurances that it will provide liquidity, two senior officials told Reuters.
Holding policy interest rates unchanged at record lows on Friday, Reserve Bank of India Governor Shaktikanta Das assured investors that its stance on liquidity remained accommodative and that the government’s 12.06 trillion borrowing programme for the fiscal year starting April would be managed in a smooth and orderly manner.
“RBI has assured us that the borrowing for 2021/22, yields…