Financial Daily from THE HINDU group of publications
Sunday, May 08, 2005
Financial Daily from THE HINDU group of publications Sunday, May 08, 2005 |
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Money & Banking
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Short Term Instruments RBI to raise Rs 2,500 cr under MSS Our Bureau
Mumbai , May 7 THE Reserve Bank of India proposes to raise Rs 2,500 crore through the auction of 364-day and 91-day Government of India treasury bills under the market stabilisation scheme. Of this, Rs 1,500 crore will be through 91-day T-bills, while Rs 1,000 crore will be raised through 364-day T-bills, an RBI press release said. The RBI also proposes to raise Rs 1,500 crore through the regular auction method. Of this, Rs 1,000 crore will be through 364-day T-bills, while Rs 500 crore will be through 91-day T-bills. The auctions will be conducted using multiple price auction method. The allocation to non-competitive bidders will be outside the notified amount, at the discretion of the RBI. Tenders should be submitted to the RBI on May 11, before 12.30 noon. Successful bidders will have to make the payment on May 13.
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