RBI announces auction of 63-Day Government of India Cash Management Bill

The Reserve Bank of India (RBI) on Friday announced the auction of a 63-Day Government of India Cash Management Bill.

The Reserve Bank of India (RBI) on Friday announced the auction of a 63-Day Government of India Cash Management Bill. The auction will be conducted using '"Multiple Price Auction" method.

The competitive bids for the auction will be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) between 10.30 a.m. and 12.00 noon. The result of the auction will be announced on the same day.

Cash Management Bills will have the generic character of Treasury Bills and their sale will be subject to the terms and conditions specified by the Government of India, as amended from time to time. Cash Management Bills are short term bills issued by the central government to meet its immediate cash needs. The bills are issued by the RBI on behalf of the government. (ANI)