The Reserve Bank of India has announced the auction of 364 day Government of India treasury bills for a notified amount of Rs.500 crore. State Governments are allowed to participate as non-competitive bidders and the allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank.

Tenders should be submitted in the prescribed form on Wednesday, July 28, 1999 before 1430 hours. The results will be announced the same evening. Payment by successful bidders will be on Thursday, July 29, 1999.