 "Strong cash balance behind bond announcement delay: source")
The Reserve Bank of India delayed the announcement of its weekly bond auction because the government has enough cash balance but decided to go ahead with the sale because of the confusion created in markets, a senior finance ministry source told Reuters on Tuesday.
Neither the central bank nor the finance ministry made an announcement on Monday about this week's bond auction, as is usually the case, creating confusion in markets.
The announcement came only earlier on Tuesday, when the government said it will sell Rs 16,000 crore ($2.52 billion) worth of bonds this week, including Rs 9,000 crore of new 10-year bonds.
($1 = 63.5900 rupees)