RBI Cancels auction for securities worth Rs.10,000 cr

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Mumbai, Oct 20 (UNI) The Reserve Bank of India today cancelled auctions for government securities worth Rs.10,000 crore following the cut in the repo rate by one per cent.

RBI, in a release here, said that auctions for the "New six year Government Stock" for Rs.6,000 crore and "7.95 per cent Government Stock 2032" for Rs.4,000 crore, for which bids were received before the announcement of repo cut, have been cancelled.

This was to enable the market participants to make fresh bids, the Apex bank said adding that the Government of India will be offering the same papers for the same amounts in auctions on a date to be announced later.

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