This is achieved by non-issuance in maturity of 1–5 years, moderating issuance in 5–9 years and increasing issuance in 10–14 year tenor which sees robust demand from banks and other market participants. We have also increased issuance of bonds in tenors more than 15 years to cater to needs of insurance companies and provident funds.
Presently, weighted average maturity of India’s debt portfolio at 10 years is one of the longest in the world. With an objective to smoothen redemptions, switching of short-tenor bonds maturing at proximate years with long-tenor bonds is also being attempted and is expected to reduce rollover risks. BIS central bankers’ speeches  3  Exchange rate risks 15.