India G-Sec auction: partial devolvement avoided, yields signal steady rates

RBI auction of 6.20% GS 2029 saw partial acceptance of ₹4,505.529 crore against ₹11,000 crore notified, while longer tenors were fully subscribed. No devolvement on primary dealers indicates adequate demand, with cut-off yields broadly in line with market expectations. The partial acceptance on the short end suggests selective investor appetite, but overall auction outcome signals stable rate expectations.