The Reserve Bank of India (RBI) will auction ₹23,000 crore (₹230 billion) in Treasury bills on Wednesday, Oct. 28, confirming a sale already listed on the government calendar a week after the central bank accepted no bids in its previous auction.
The offering comprises ₹8,000 crore each in 91-day and 182-day bills, plus ₹7,000 crore in 364-day bills. The RBI will use a price-based, multiple-price auction through its E-Kuber system. Eligible institutions and individuals may submit noncompetitive bids, while retail investors’ allocation is capped at 5% of the notified amount.
The Government of India’s October-December auction calendar, published Sept. 25, listed the same date and amounts. It allows changes with notice if government requirements, market conditions or other relevant factors warrant.
In results for the Oct. 21 auction, the RBI recorded no accepted face value across the three maturities. Competitive bids totaled ₹45,644.600 crore and noncompetitive bids totaled ₹15,424.746 crore. The central bank did not give a reason for the outcome or publish cutoff yields. EconoTimes previously reported the Oct. 21 auction’s nil allocation.
The RBI will announce the new auction’s results on Oct. 28. Payment for successful bids is due Thursday, Oct. 29.
