The Reserve Bank of India will conduct an auction of 35 days Government of India Cash Management Bills under the Market Stabilisation Scheme (MSS) for a notified amount of ₹ 60,000 crore tomorrow, December 06, 2016 using "Multiple Price Auction" method. The bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 2 pm and 3 pm on Tuesday, December 06, 2016. Result will be announced on the same day. Payment by successful bidders will be on T+0 i.e. on Tuesday, December 06, 2016.
The Cash Management Bills will have the generic character of Treasury Bills and their sale will be subject to the terms and conditions specified in the General Notification. F.No 4 (8)-W & M/2015 dated May 26, 2016 issued by Government of India and as amended from time to time. The Non-Competitive Bidding Scheme is not extended to Cash Management Bills.
Press Release : 2016-2017/1417
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