Indian bond yields rise before auctions, oil high

MUMBAI, May 8 (Reuters) - Indian bond yields edged up on Thursday, ahead of bond auctions and an increase in reserve requirment this week, while high oil prices also weighed as it could stoke inflation.

* The government will auction 100 billion rupees ($2.4 billion) of bonds on Friday.

* A 25 basis point increase in banks' reserve requirements takes effect on Saturday and is expected to drain about 90 billion rupees from the system.

* At 9:10 a.m., the 10-year bond yield <IN082418G=CC> was at 7.89 percent, two basis points above Wednesday's close. (Reporting by V. Ramakrishnan; Editing by Prem Udayabhanu)