New Delhi: The Reserve Bank of India (RBI) will auction '91-day Government of India Treasury Bills' for a notified amount of Rs 90 billion on June 6, 2012 using 'multiple price auction' method, it said in a statement.
The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the bank, the statement said. The sale will be subject to the terms and conditions specified in the particular general notification issued by the Government of India and as amended from time to time, it added.
The competitive bids for the auction have to be submitted in an electronic format on the negotiated dealing system (NDS) between 10:30 am and 12:00 pm on June 6, 2012. The non-competitive bids have to be submitted between 10:30 am and 11:30 am.
The results of the auction will be announced on the same day and payments by successful bidders will be on June 8, 2012.