Mumbai, May 29 -- The Reserve Bank of India on Friday raised Rs 28,000 crore through the auction of government securities, with strong demand for both the 6.68% GS 2040 and 7.43% GS 2076 bonds.

The RBI had notified Rs 17,000 crore for the 6.68% GS 2040 security and Rs 11,000 crore for the 7.43% GS 2076 bond.

The 6.68% GS 2040 attracted robust investor interest, receiving 309 competitive bids worth Rs 53,620 crore against the notified amount of Rs 17,000 crore. The cut-off price was set at Rs 94.22, translating into a yield of 7.3439%.

The weighted average price for the security stood at Rs 94.25, while the weighted average yield came in at 7.3403%. The RBI accepted 72 competitive bids amounting to Rs 16,939.59 crore. Twenty-eight bids ...