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How RBI’s rate cut will impact your debt funds
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The Reserve Bank of India’s (RBI) on Friday cut repo and reverse repo rates by 0.4% each and announced its intention to continue its accommodative stance on interest rates.
This usually leads to a jump in returns but this time yields on 10-year bonds did not fall by a significant amount, meaning that long-dated debt funds may not see major gains from the cut.
On the flip side, short-dated funds such as overnight, liquid and ultra short-term will see a fall in returns due to yield reduction.
While debt fund managers are divided on the future trajectory of yields in the face of higher government borrowing, financial planners have suggested a cautious stance with emphasis on categories like short-term debt and PSU and banking debt.
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