Effectively, the CB gave into higher yields as a hatcheck of fiasco would have hit the current mandate of FAX policy. Clearly, the CB in India has chosen to compromise on its role as the Debt Manager (DMS) to the government (with inherent bias for lower interest rates) for the time being in an apparent bid to defend the INNER. CB has been able to convince the government that INNER defense is the rarity at this time leading to acceptance of less-favorable pricing by the former at the bond auctions today. Global Markets Research The Event: NOVO-08 RIB dilutes DMS role; INNER priority Shish Kumar shish. [email protected] Com +91 22 3032 8536 Learn Securities (India) Private Limited Learn Securities (India) Private Limited Disclosures & Confidentiality for non U. S. Investors The Note is based on our estimates and is being provided to you (herein referred to as the "Recipient") only for information purposes. The sole purpose of this Note is to revive preliminary information on the business activities of the company and the projected financial statements in order to assist the recipient in understanding / evaluating the Proposal.
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