The Hindu Business Line : T-bills auction

Mumbai, Aug 14 The Reserve Bank of India has announced an auction of Rs 4,000 crore through Treasury-Bills, of which Rs 2,500 crore was the Market Stabilisation Scheme (MSS) amount.

In the 91-day T-bill, the notified amount was Rs 2,000 crore, of which Rs 1,500 crore was the MSS amount, said a release.

The RBI received 92 competitive bids amounting to Rs 3,450.47 crore, of which it accepted 59. The cut-off price was Rs 98.35 (YTM 6.7292 per cent). The cut-off yield in the previous week’s auction was higher at 6.5634 per cent. This is because there is some worry on the liquidity front, said bond dealers.

The partial allotment percentage was 95.52 per cent from 10 bids and the weighted average price, Rs 98.37. The RBI also received and accepted two bids amounting to Rs 303 crore and the partial allotment percentage was 100 per cent.

In the 364-day T-bill, the notified amount was Rs 2,000 crore, of which Rs 1,000 crore was the MSS amount. The apex bank received 104 competitive bids amounting to Rs 4,685 crore, of which it accepted 33. The cut-off price was Rs 93.05 (YTM 7.4896 per cent).

The partial allotment percentage of competitive bids was 62.22 per cent for five bids and the weighted average price was Rs 93.1. There were no non-competitive bids.

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