Nabard Scraps Rs 7,000 Crore Bond Issuance

Nabard, a big bank for farming and rural areas, decided not to sell bonds worth Rs 7,000 crore.

They planned to sell these bonds for three years, but the interest rates were too high.

They thought the rates would go down after the government added more money to the market, but they went up instead.

This is the second time Nabard has cancelled this plan.

Another company, Power Finance Corporation, also cancelled their bond sales for similar reasons.

People who work in the market say that the recent small cut in interest rates by the central bank hasn't helped much.

The central bank has been trying to help by adding a lot of money to the market, but the rupee is getting weaker, and there aren't enough people buying bonds.

This makes it hard for companies to sell bonds at good rates.