The benchmark yield rose by 5 basis points on Monday, pushing bond prices lower after the government appointed Dr Urjit Patel to take over as the new governor of the Reserve Bank of India (RBI). The benchmark yield rose to 7.15 to end 0.80 per cent higher. It closed at 7.10 per cent on Friday.The bond markets may worry at least for the time being about the prospects of future rate cuts by the new governor who is popularly known as an inflation warrior.

Source - http://economictimes.indiatimes.com