The benchmark bond yield recorded its sharpest fall in 10 weeks on Friday following the Reserve Bank of India's (RBI) announcement to buy and sell of sovereign securities from the market a day earlier.
The benchmark dipped 15 basis points pushing prices up. The gauge closed at 6.60 percent compared with 6.75 percent Thursday. One basis point is 0.01 percentage point. For the first time, the RBI Thursday launched in its own version of Operation Twist to drive yields down. Earlier in 2011, Ben Bernanke had introduced such financial engineering to push yields down.
