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Mumbai, Sept. 24

The Reserve Bank of India has announced auctions of government stocks and Treasury Bills worth Rs 16,500 crore.

The auction of “5.87 per cent Government Stock 2010” for Rs 5,000 crore (nominal) and “5.48 per cent 2009 paper” for Rs 5,000 crore will be conducted through a price based auction using multiple price method. on September 26, said a press release.

Up to 5 per cent of the notified amount of the sale of the stock will be allotted to eligible individuals and institutions under Non-Competitive Bidding Facility. The result will be announced the same day.

The bank has also announced the auction of 91-day and 364-day T-bills for Rs 6,500 crore of which Rs 5,000 crore will be the Market Stabilisation Scheme amount. For the 91-day T-bill the notified amount is Rs 3,500 crore, of which Rs 3,000 crore is the MSS amount while for the 364-day T-bill, the notified amount is Rs 3,000 crore of which Rs 2,000 crore will be the MSS amount.

The auction will be conducted on September 26 using ’Multiple Price Auction’ method. The allocation to the non-competitive bidders will be outside the notified amount, at the discretion of the bank, said the release. –

Our Bureau

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