Oil pain pins India bonds in range; RBI minutes to give next cue

At the same time, the RBI remains watchful of risks from geopolitics, crude oil prices and global monetary policy developments.

Short-term borrowing costs for Indian lenders climbed most in a month after the nation’s central bank said it would end its overseas deposit facility early, taking away a cheaper and more stable source of funding.

As inflows from the foreign-currency deposit scheme begin to fade, yields could drift higher.

Indian government bonds showed little movement on Wednesday, trading in a tight range. The increase in oil prices countered support drawn from softer U.S. Treasury yields, which affected trader sentiment. Market participants are now looking ahead to the impending policy minutes…