The North Block in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg)
The government’s attempt to push back debt redemptions by either buying back bonds or switching them for longer-dated securities has seen limited success.While buybacks were halted due to the government’s strained finances, “debt switches” haven’t seen many takers in a market where the supply of bonds is large and the pool of buyers limited.In a year when government bond auctions have partially failed a number of times, the rising re...