The Hindu Business Line : 91-day paper undersubscribed

THE auction of the 91-day treasury bill was under-subscribed while the 364-day treasury bill was over-subscribed on Wednesday, according to an RBI press release.

The notified amount for the 91-day T-bill was Rs 4,000 crore, of which Rs 3,500 crore was under the Market Stabilisation Scheme (MSS).

The Reserve Bank of India received 44 competitive bids, amounting to Rs 2,102 crore. Of these, the RBI accepted 41 bids amounting to Rs 2,022 crore. The cut-off price was Rs 98.65 (5.49 per cent YTM). The weighted average price was Rs 98.69.

The RBI also received two non-competitive bids amounting to Rs 479.59 crore.

In the case of the 364-day T-bill, the notified amount was Rs 2,000 crore, of which Rs 1,000 crore was under MSS. The RBI received 49 competitive bids amounting to Rs 3,146 crore. Of these, it accepted 25 competitive bids, amounting to Rs 2,000 crore. The cut-off price was Rs 94.54 (5.79 per cent YTM). The partial allotment percentage amounted to 76.74 per cent from two bids. The weighted average price was Rs 94.58.

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