The Reserve Bank of India said on Wednesday that it has set cut off price of Rs 98.23 or year-to-maturity (YTM) 7.2274 per cent for auction of 91-days Treasury Bills worth Rs 8,000 crore.
"The bank had received 58 competitive bids worth Rs 34,025.05 crore while it accepted 42 bids value worth Rs 8,000 crore," RBI said in a press release.
Meanwhile, the apex bank received 7 non-competitive bids for Rs 12,003.00 crore and accepted the same.
The weighted average price for the auction was Rs 98.23.
The Reserve Bank of India announced that it will conduct auction of 91-days Treasury Bills worth Rs 8,000 crore on December 23, 2015 using "Multiple Price Auction" method.