The Reserve Bank of India (RBI)'s sharp rate cut earlier this week has failed to make an impact on the corporate bond market.Yields have barely moved and there have not been much of primary issuances. The secondary market yields on AAA-rated paper, considered the safest, have fallen by a meagre two to four basis points (bps) in tenures like 10 and five years.
RBI reduced the repo rate, at which banks borrow from it, by 50 bps to 6.75 per cent. After which, government bond yields dropped nearly 20 bps.

Source - http://www.business-standard.com