Nabard, REC withdraw bond issues amid higher-than-expected yields

Nabard and REC withdrew their planned bond issues on Thursday due to higher-than-expected yields. Nabard, initially seeking ₹8,000 crore for seven years, will now attempt to raise the same amount on Monday, March 16, but for a three-year tenure. The initial offer would have required Nabard to pay 7.57% interest.