960412

Indian T-bill

yield falls

BOMBAY: The Reserve Bank of India (RBI) said it set a cut-off price of Rs 96.89 at the 91-day treasury bill auction on Friday.

Eighty-one competitive bids for Rs 12.79 billion and two non-competitive bids for Rs 1.25 billion were received against the Rs 5 billion on offer, it said.

Twenty-three competitive bids received full allotment and 11 received partial allotment, the RBI said.

Both the non-competitive bids received partial allotment at the weighted average price for the competitive bids, it said.

The competitive bids were allotted Rs 4.87 billion and the non-competitive Rs 128.4 million. There was no development on the RBI or the primary dealers, it said.-Reuter