Date:09/04/2005 URL: http://www.thehindubusinessline.com/2005/04/09/stories/2005040901910600.htm

Back RBI to raise Rs 2,500 cr under MSS

Our Bureau

Mumbai , April 8

RESERVE Bank of India plans to raise Rs 2,500 crore through the auction of 364-day and 91-day Government of India treasury bills under the Market Stabilisation Scheme. Of this Rs 1,000 crore will be raised through the 364-day T-bills, while Rs 1,500 crore will be raised through the auction of 91-day T-bills.

RBI also proposes to raise Rs 1,500 crore through regular auction. Of this, Rs 1,000 crore will be raised through the 364-day T-bills, while Rs 500 crore will be raised through the auction of 91-day T-bills.

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 RBI.

Tenders should be submitted on April 13, before 12 noon. Successful bidders will have to make the payment on April 15.