The Hindu Business Line : Rs 7,000-cr gilts auction on Jan 4

Government stock 9.39 per cent 2011 will be issued for a notified amount of Rs 5,000 crore while 7.50 per cent 2034 paper will be issued for a notified amount of Rs 2,000 crore.

A price-based auction of two papers will take place using multiple price method.

Up to 5 per cent of the notified amount of the sale of the stocks will be allotted to eligible individuals and institutions as per the scheme for non-competitive bidding facility, said an RBI release.

Result of the auctions will be announced on January 4 while payment by successful bidders will be on January 5.

The Reserve Bank of India also said it plans to sell treasury bills worth Rs 26,500 crore under the Market Stabilisation Scheme (MSS) in the January to March quarter, 2005.

The central bank plans to sell 91-day and 364-day t-bills under the MSS, said the release.

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