Date:21/03/2005 URL: http://www.thehindubusinessline.com/2005/03/21/stories/2005032100381200.htm

Back Rs 2,000-crore T-bills auction

Our Bureau

MUMBAI: The Reserve Bank of India proposes to raise Rs 2,000 crore through the auction of 91-day Government of India treasury bills.

Of this amount, Rs 500 crore will be auctioned under the regular auction calendar and Rs 1,500 crore under the Market Stabilisation Scheme. The auction will be conducted using `multiple price auction' method.

The allocation to non-competitive bidders will be outside the notified amount at the discretion of the RBI.

Tenders should be submitted in the prescribed form on March 22, before 12.30 p.m.

Results will be announced the same evening and successful bidders will have to make the payment by March 24.