364-day Treasury Bills auction

By CROW -
The Reserve Bank of India has announced the auction of 364-day Government of India Treasury Bills for notified amount of Rs.3500 crore (Rs.1000 crore under the regular auction calendar and Rs.2500 crore under the Market Stabilisation Scheme (MSS)). The auction will be conducted on May 7, 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 No. F.2 (12)-W & M/97 dated 31st March 1998 issued by Government of India and as amended from time to time.

Tenders should be submitted in the prescribed form on Wednesday, May 7, 2008 by 12.30 P.M. Results will be announced on the same evening. Payments by successful bidders will be on Friday, May 9, 2008.

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