India Sells 91-Day Treasury Bills at 8.4364% Yield

India sold 70.00 billion rupees ($1,436.6 million) of 91-day treasury bills at 97.94 per 100-rupee face amount, the central bank said in a statement in Mumbai.

The yield on the bills was 8.4364 percent, same as 8.4364 percent at the last auction, the Reserve Bank of India said.

The results of the auction are as follows. Rupee amounts are in billions.

============================================================================
Auction Date                       09/28/11   09/21/11   09/14/11   09/07/11
============================================================================
Notified Amount                     70.0000    70.0000    70.0000    70.0000
  Under MSS*                         0.0000     0.0000     0.0000     0.0000
Underwriting Notified Amount            n/a        n/a        n/a        n/a
Competitive bids received
  (i) Number                             84         92         85         88
 (ii) Amount                       190.9895   174.7849   199.6840   189.4676
Cut-off
 Price                                97.94      97.94      97.95      97.95
 Yield to maturity                  8.4364%    8.4364%    8.3946%    8.3946%
============================================================================
Auction Date                       09/28/11   09/21/11   09/14/11   09/07/11
============================================================================
Competitive bids accepted
  (i) Number                             52         54         47         60
 (ii) Amount                        70.0000    70.0000    70.0000    70.0000
     Under MSS                       0.0000     0.0000     0.0000     0.0000
Partial allotment % of Comp. Bid     57.84%     68.14%     63.39%     31.11%
  Number of Bids                         31         34         32         39
Weighted Average Price                97.94      97.94      97.95      97.96
Non-Comp. bids received
  (i) Number                              1          2          2          2
 (ii) Amount                        15.0000    25.0000     7.0000    27.5000
Non-Comp. bids accepted
  (i) Number                              1          2          2          2
 (ii) Amount                        15.0000    25.0000     7.0000    27.5000
(iii) Partial Allotment %           100.00%    100.00%    100.00%    100.00%
============================================================================

Note: * MSS = Market Stabilisation Scheme of the Reserve Bank of India.

The central bank usually auctions 91-day treasury bills every

Wednesday.

Source: Reserve Bank of India.

To contact the reporter on this story: Manish Modi in New Delhi at mmodi6@bloomberg.net.

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net.