RBI to auction 182-day treasury bills on July 12

Mumbai, July 7 (UNI) The Reserve Bank of India (RBI) has announced an auction of 182-day Government of India treasury bills for notified amount Rs 1,500 crore (Rs 500 crore under the regular auction calendar and Rs 1,000 crore under the market stabilisation scheme).

The auction would be held on July 12 using multiple price auction method. The allocation to the non-competitive bidders will be outside the notified amount, at the discretion of the bank. The sale will be subject to the terms and conditions specified in the general notification No F2 (12)-W&M/97 dated March 31, 1998 issued by Government of India and as amended from time to time.

Tenders should be submitted in the prescribed form on July 12.

The results will be announced on the same evening. Payments by successful bidders will be on July 14, the RBI release said here today.

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