The Hindu Business Line : RBI proposes to raise Rs 4,500 cr under MSS

THE Reserve Bank of India has proposed to raise Rs 4,500 crore through the auction of 91-day and 364-day Treasury Bills, under the Market Stabilisation Scheme, said a RBI press release.

Of this, Rs 3,500 crore will be raised through the auction of 91-day T-bills, while Rs 1,000 crore will be raised through the auction of 364-day T-bills. The RBI also proposes to raise Rs 1,500 crore through regular auction. Of this, Rs 500 crore will be raised through the auction of 91-day T-bills and Rs 1,000 crore through the auction of 364-day T-bills.

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

Tenders should be submitted on August 31 before 12.30 pm. Successful bidders will have to make payment on September 2.

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