MUMBAI :The Reserve Bank of India (RBI) will conduct an auction of 28 days Government of India Cash Management Bills under the Market Stabilisation Scheme (MSS) for a notified amount of Rs 60,000 crore today 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 1500 hrs and 1530 hrs, Result will be announced on the same day. Payment by successful bidders will be on T+0. 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. (AGENCIES)
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