The results of the RBI repos/reverse repo auctions held on December 31,2003 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)	46 26995	N.A. 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)	46 26995 4.50	N.A. N.A. N.A.
3.Weighted average Cut-off Rate(per cent)	4.50	N.A.

P. V. Sadanandan

Manager

Press Release :2003-2004/800