Financial Daily from THE HINDU group of publications
Wednesday, Oct 13, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 13, 2004 |
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Money & Banking
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Short Term Instruments Higher cut-off at T-bill sale Our Bureau
Mumbai , Oct. 12 THE Reserve Bank of India set a higher cut-off at 5.16 per cent (cut-off price Rs 98.73) at the 91-day Treasury bill auction held on Tuesday. Cut-off was set at 5.08 per cent at the previous auction. Of the 65 competitive bids worth Rs 3,652.50 crore received, 56 bids worth Rs 2,000 crore were accepted. A sole non-competitive bid worth Rs 400 crore was also accepted at the auction. At the 364-day Treasury bill auction, the cut-off price was fixed at Rs 94.81(cut-off yield at 5.49 per cent), lower than the previous cut-off at Rs 94.90. Of the 102 competitive bids worth Rs 5,175 crore, 32 bids worth Rs 2,000 crore were accepted. One non-competitive bid worth Rs 4.50 crore was also accepted.
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