The Reserve Bank of India has announced the auction of 182-days Government of India Treasury Bills for notified amount of Rs 50 billion. The auction will be conducted on Sept. 24, 2014 using multiple price auction method.

The allocation to the 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 Mar. 31, 1998 issued by Government of India and as amended from time to time.

The competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10.30 a.m. and 12 noon on Sept. 24, 2014. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. results will be announced on the same day.