OREANDA-NEWS. July 18, 2011. The Reserve Bank of India has today announced the auction of 56-day Government of India Cash Management Bills for a notified amount of Rs. 8,000 crore. The auction will be conducted on July 18, 2011 using "Multiple Price Auction" method. The Cash Management Bills will be repaid at par on September 13, 2011. The competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) between 10.30 a.m. and 12.30 p.m on Monday, July 18, 2011. Results will be announced on the same day. Payments by successful bidders will be on Tuesday, July 19, 2011.

The 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.2 (12)-W&M/97 dated March 31, 1998 issued by Government of India and as amended from time to time.