Rbi Retains 91-Day Paper Cut-Off At 7.02 Per Cent

The Reserve Bank of India (RBI) has retained the cut-off on the 91-day treasury bills at

7.02 per cent and raised Rs 500 crore.

Of the 12 bids received by RBI totalling Rs 600.21 crore, including three non-competitive bids for Rs 450 crore, the apex bank has accepted seven competitive bids for Rs

108.87 crore and three non-competitive bids for Rs 391.13 crore.

While the cut-off price has been set at 98.28, the weighted average cut-off is 98.34, ind-

icating a yield of 6.77 per cent .

With this auction the government has raised Rs 2,850 crore through this instrument in the past three months.

 

The partial allotment percentage in this auction is 86.92 per cent.

Meanwhile, the Reserve Bank of India has successfully raised Rs 1,772 crore in the 14-day treasury bills auction, the cut-off for which has been retained at 4.96 per cent.

The central bank received a total of 13 bids amounting to Rs 1,827 crore of which it accepted nine bids for the abovesaid amount. The cut-off price has been set at 99.81 which is also the weighted cut-off.

There was no devolvement on Reserve Bank of India or on the primary dealers in this round of auctions.