DEVELOPMENT OF GILTS ON RBT UP AT 30 PC
Article Abstract:
The development of government credit on the Reserve Bank has increased to 30 percent in 1997-98 as against 13.25 percent in 1996-97. The interim budget has pegged government borrowing at Rs86,000 crore for 1998-99. It is feared that if there is an escalation in government borrowing in 1998-99, a larger part of the deficit may be monetised. In 1997-98, net market borrowing was put at Rs40,494 crore, up from Rs26,356 crore in 1996-97. (uh)
Comment:
Development of government credit increases to 30% in 1997-98 as against 13.25% in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RBI EASES T-BILLS YIELD TO 9.05%
Article Abstract:
Reserve Bank of India (RBI) fixed the yield for the 364-day treasury bills (T-bills) auction of Rs200 crore at 9.05 percent. RBI has conceded to the market demand for more realistic yields. Its had earlier fixed the cut-off yield on 364-day T-bills at 8 percent which was considered low when compared with similar maturity government paper. RBI has received a market subscription of Rs75 crore against the auction amount of Rs200 crore. (gs)
Comment:
Fixes yield for 364-day treasury bills auction of Rs200 crore at 9.05%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RBI MOPS UP RS 2,899 CR FROM GILTS SALE
Article Abstract:
The Reserve Bank of India (RBI) mobilised Rs2,898.72 crore through the on-tap sale of the 11.55 percent, 2001 government securities on July 17, 1998. All the 79 applications received have been accepted by the RBI. The papers were trading at a premium of 15-17 paise before RBI announced the on tap sale. The amount on the three year papers is estimated at Rs5,500 crore. (ag)
Comment:
Mobilizes Rs2,898.72 crore through on-tap sale of 11.55%, 2001 government securities on 7/1798
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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