The reprieve may be short-lived as traders are worried about the unprecedented bond sales of about Rs 15 lakh crore for the fiscal year starting April amid dwindling demand.
Barclays, JPMorgan and Deutsche Bank are among banks arranging the bond sale to raise the funds. The proceeds will be used to refinance a rupee loan taken earlier this year.
An ex-governor and two deputies of the RBI have argued that the time is not ideal for such an issuance because India runs quite a large budget deficit.
General MM Naravane’s memoir—Four Stars of Destiny—reveals that he was left hanging by political leadership for more than two hours as Chinese tanks drove towards Indian positions.
The key to fighting a war successfully, or even launching it, is a clear objective. That’s an entirely political call. It isn’t emotional or purely military.
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