India cbank rejects some bids for second straight week at t-bills sale

Last Updated: Wed, Mar 06, 2013 08:30 hrs

MUMBAI, March 6 (Reuters) - The Reserve Bank of India on Wednesday rejected some bids at the 91-day treasury bills auction, accepting 62.35 billion rupees ($1.13 billion) as against 70 billion rupees notified.

The Indian central bank set a cut-off price of 98.02 rupees, and yield of 8.1022 percent on the 91-day t-bills, unchanged from the previous week. The cut-off yield was in line with a Reuters poll forecast.

The RBI set a cut-off price of 92.71 rupees, or 7.8848 percent, on the 364-day t-bills. The poll forecast was marginally higher at 7.90 percent.

The central bank had also rejected some bids at its t-bills auctions last week. (Reporting by Neha Dasgupta; Editing by Anand Basu)

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