Maiden 14-Day T-Bill Mopup At Rs 1,274cr

In the first ever auction of 14 day treasury bills, the Reserve Bank of India (RBI) fixed the cut-off on the bills at 4.96 per cent, mopping up Rs 1,274 crore including a devolvement of Rs 160 crore on primary dealers.

The 4.96 per cent yield has created a new point on the yield curve.

The RBI received a total of 48 bids worth Rs 2,669 crore including one non-competitive bid for Rs 100 crore. The RBI accepted a total of 21 bids amounting to Rs 1,114 crore, including the non-competitive bid.

At the auction of 91 day treasury bills, the RBI maintained the cut-off at 6.77 per cent, mopping up Rs 391 crore. There was devolvement on the primary dealers to the extent of Rs 109 crore.

 

The issue was supported by three non-competitive bids for Rs 350 crore which were accepted in full. Only four bids for Rs 41 crore were accepted of the seven competitive bids for an amount of Rs 121 crore.