Cut-Off Yields For 91-Day Paper Up To 6.75%

The cut-off yields at the 91-day Government of India (GoI) treasury bills went up from 6.23 per cent in the earlier two auctions to 6.75 per cent in the auction held yesterday .

The issue has sailed through as the Reserve Bank of India (RBI) has been able to raise the notified amount of Rs 150 crore, with help from non-competitive bids.

While the cut-off price was Rs 98.34, indicating a yield of 6.75 per cent, the weighted average was at Rs 98.41 giving a yield of 6.46 per cent.

The Reserve Bank of India received 4 competitive bids for Rs 22 crore of which 2 bids for Rs 7.2 crore, including a partial allotment for Rs 2.2 crore, were accepted.

 

The auction also received 3 non-competitive bids for Rs 375 crore of which all 3 bids, including partial allotment, were accepted for Rs 142.8 crore.

The repo auction conducted in Government of India dated securities did not receive any bids yesterday.

The last 91-day Government of India treasury bills' auction was for a notified amount of Rs 150 crore and saw partial devolvement to the extent of Rs 45 crore.

Of this, the share of Reserve Bank of India was Rs 38.88 crore and that of primary dealers was Rs 6.12 crore.