35 Day Treasury Bills for Rs. 60k crores on Auction

[RBI Press Release No. 2016-2017/1408 dated 5^th December 2016]

Sub: Issuance of 35 days Cash Management Bills under Market Stabilisation Scheme (MSS)

The Reserve Bank of India has announced the auction of the 35 days Government of India Cash Management Bills for a notified amount of Rs. 60,000 crore today, December 05, 2016 using "Multiple Price Auction" method. The bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 2 pm and 3 pm on Monday, December 05, 2016. Result will be announced on the same day. Payment by successful bidders will be on T+0 i.e. on Monday, December 05, 2016.

The Cash Management Bills will have the generic character of Treasury Bills and their sale will be subject to the terms and conditions specified in the General Notification. F.No 4 (8)-W & M/2015 dated May 26, 2016 issued by Government of India and as amended from time to time. The Non-Competitive Bidding Scheme is not extended to Cash Management Bills.