The Reserve Bank of India (RBI) announced the auction of 91-day Government of India treasury bills for notified amount of Rs 35 billion (Rs 5 billion under the regular auction calendar and Rs 30 billion under the Market Stabilisation Scheme (MSS)).
RBI also announced the auction of 182-day Government of India treasury bills for notified amount of Rs 15 billion (Rs 5 billion under the regular auction calendar and Rs 10 billion under the Market Stabilisation Scheme (MSS)).
The auction will be conducted on Jan. 9, 2008 using `Multiple Price Auction` method. The allocation to the non-competitive bidders will be outside the notified amount, at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the general notification dated Mar. 31, 1998 issued by Government of India and as amended from time to time.
Tenders should be submitted in the prescribed form on Wednesday, Jan. 9, 2008 by 12.30 p.m. Results will be announced on the same evening. Payments by successful bidders will be accepted on Friday, Jan. 11, 2008.
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