The results of the RBI repos/reverse repo auctions held on January 07,2004 are:

Items	Repo Auction (Sale of securities by RBI)	Reverse Repo Auction(Purchase of securities by RBI)
1.Applications received for one day repo period:      (i)Number      (ii) Amount      (Face value in Rs. crore)	54 40080	Nil N.A.
2.Applications accepted for one day repo period:      (i) Number      (ii) Amount      (Face value in Rs. crore)      (iii)Cut-off Rate (per cent)	54 40080 4.50	N.A. N.A. N.A.
3.Weighted average Cut-off Rate(per cent)	4.50	N.A.

Ajit Prasad

Manager

Press Release :2003-2004/831