RBI announces auction of treasury bills

Mumbai, Apr 5 (UNI) The Reserve Bank of India today announced the auction of 364-day Government of India Treasury Bills for a notified amount of Rs 2000 crore.

The auction will be held on April 11, 2007, using the 'Multiple Price Auction' method, a RBI release here said.

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

The sale will be subject to the terms and conditions specified in the general notification earlier issued by the Government.

Tenders should be submitted in the prescribed form on Wednesday, April 11, 2007, by 1230 hrs. Results will be announced on the same evening. Payments by successful bidders will be on Friday, April 13, 2007, the release added.

UNI