The government has repurchased bonds worth 10,590 cr. and all of the accepted ones are the 6.07% that is maturing in May 2014.
I had mentioned the repayment obligations in an earlier post:
Now, what has changed is that the obligation for May 2014 is down to 28,500 cr. This still means that in April+May, the government will need to repay Rs. 69,000 cr. of debt.
The government will not have the money; it will usually issue fresh debt, either as bonds, T-Bills (short term paper) or Ways and Means Advances from RBI. They will not default.
However this can mean that a higher issue of paper is required in order to meet these obligations, and yields will be under upward pressure accordingly.