India’s plan for its maiden overseas bond offering is becoming mired in confusion.

The office of Prime Minister Narendra Modi is opposed to selling debt in foreign currencies, ET Now television channel reported Thursday, citing Cogencis news agency. The top finance ministry official overseeing the $10 billion debt sale was transferred to another department.

Yields on India’s benchmark 10-year debt jumped 12 basis points, the most since January, to 6.55 per cent........................................ET