P.V.Anandpadmanabhan

The Reserve Bank of India has announced the auction of 364-day Government of India Treasury Bills for notified amount of `6,000 crore. The auction will be conducted on October 29, 2014 using "Multiple Price Auction" method.

The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the General Notification No. F.2 (12)-W & M/97 dated 31st March, 1998 issued by Government of India and as amended from time to time.

The competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12.00 noon on Wednesday October 29, 2014.

The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. Results will be announced on the same day. Payments by successful bidders will be on Thursday, October 30, 2014, as per RBI sources.