RBI announces auction of Cash Management Bill

Last updated: 28 March 2020

Quick Summary
The Reserve Bank of India (RBI) has announced an auction for two types of Government of India Cash Management Bills. These will be for a tenor of 77 days and 84 days, with a notified amount of ₹40,000 crore for each. The auction, held on March 31, 2020, will use the Multiple Price Auction method, with bids submitted electronically via the RBI's E-Kuber system.

RBI announces auction of a 77-Day and 84-Day Government of India Cash Management Bill

    

The Reserve Bank of India announces the auction of a 77-Day and 84-Day Government of India Cash Management Bill as per the following details.

Auction Date Settlement Date Maturity date Tenor
(in days)		 Notified Amount
March 31, 2020 March 31, 2020
(T+0 settlement)		 June 16, 2020 77 ₹ 40,000 crore
March 31, 2020 March 31, 2020
(T+0 settlement)		 June 23, 2020 84 ₹ 40,000 crore

The auction will be conducted using "Multiple Price Auction" method. The competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) between 10.00 a.m. and 11.00 a.m. The result of the auction will be announced on the same day.

Cash Management Bills will have the generic character of Treasury Bills and their sale will be subject to the terms and conditions specified in the General Notification No. F.No.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India, as amended from time to time.

Ajit Prasad
Director  

FAQ :

The Reserve Bank of India is auctioning 77-day and 84-day Government of India Cash Management Bills.

The notified amount for both the 77-day and 84-day Cash Management Bills is ₹40,000 crore.

The auction took place on March 31, 2020.

Competitive bids must be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) between 10:00 a.m. and 11:00 a.m.

The 77-day bill matures on June 16, 2020, and the 84-day bill matures on June 23, 2020.

The auction will be conducted using the 'Multiple Price Auction' method.



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