The Hindu Business Line : T-Bill auctions to raise Rs 2,500 cr

THE Reserve Bank of India plans to raise Rs 2,500 crore through the auction of 182-day and 91-day Government of India treasury bills under the Market Stabilisation Scheme, according to a press release.

Of this, Rs 1,000 crore will be raised through the auction of 182-day T-bills, while Rs 1,500 crore will be raised through the auction of 91-day T-bills.

The RBI also proposes to raise Rs 1,000 crore through the regular auction.

Of this, Rs 500 crore will be raised through the auction of 182-day T-bills and Rs 500 crore through the auction of 91-day T-bills.

The auction will be conducted using the `Multiple Price Auction' method.

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

Tenders should be submitted on May 18 before noon.

Successful bidders will have to make the payment on May 20.

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