The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.500 crore. The auction will be conducted using "Multiple Price Auction" method. The allocation to 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 31 March 1998 issued by Government of India as amended by Government of India notification No.2(1)-W&M/2001 dated July 12, 2002, dated December 5, 2003 and dated December 11, 2003.

Tenders should be submitted in the prescribed form on Wednesday, January 14, 2004 before 1230 hours. The results will be announced the same evening. Payment by successful bidders will be on Friday, January 16, 2004.

Ajit Prasad
Manager

Press Release : 2003-2004/849