RBI announces auction of 182-day Treasury Bills

Mumbai, May 11 (UNI) The Reserve Bank of India (RBI) has announced the auction of 182-day Government of India Treasury Bills for notified amount of Rs 1,500 crore (Rs 500 crore under the regular auction calendar and Rs 1000 crore under the Market Stabilisation Scheme (MSS)).

The auction will be conducted on May 16, using ''Multiple Price Auction'' method, a RBI release said.

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 issued by Government of India and as amended from time to time.

Tenders should be submitted in the prescribed form on May 16 by 1230 hrs. The results will be announced the same evening. Payments by successful bidders will be accepted on May 18.

Meanwhile, the central bank has also announced the auction of 91-day Government of India Treasury Bills for notified amount of Rs 2000 crore (Rs 500 crore under the regular auction calendar and Rs 1500 crore under the Market Stabilisation Scheme (MSS)).

The auction will be conducted on May 16, using ''Multiple Price Auction'' method.

Tenders should be submitted in the prescribed form on May 16 by 1230 hrs. The results will be announced the same evening. Payments by successful bidders will be on May 18, the release added.

UNI