Date:17/07/2005 URL: http://www.thehindubusinessline.com/2005/07/17/stories/2005071701820300.htm

Back RBI proposes to raise Rs 2,500 cr under MSS

Our Bureau

Mumbai, July 16

THE Reserve Bank of India plans to raise Rs 2,500 crore through the auction of 364-day and 91-day Treasury Bills, under the Market Stabilisation Scheme, said an RBI press release.

Of this Rs 1,000 crore will be raised through the auction of 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 the 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.

Tenders should be submitted on July 20, 2005 before 12 p.m. Successful bidders will have to make payment on July 22.