The first meeting of the Sub-Committee of the Financial Stability Development Council (FSDC) was held today in the Reserve Bank of India, New Delhi. Dr. D. Subbarao, Governor, Reserve Bank of India chaired the meeting. The list of members of the Sub-Committee who participated in the meeting are :

The Reserve Bank of India has announced the auction of 364-day Government of India Treasury Bills for notified amount of Rs.3,000 crore. The auction will be conducted on March 9, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the General Notification No. F.2 (12)-W & M/97 dated 31st March, 1998 issued by Government of India and as amended from time to time.

The Reserve Bank of India has announced the auction of 91-day Government of India Treasury Bills for notified amount of Rs.5,000 crore. The auction will be conducted on March 9, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the General Notification No. F.2 (12)-W & M/97 dated 31st March, 1998 issued by Government of India and as amended from time to time.

The Reserve Bank of India has today notified that M/s. Compuage Infocom Limited has agreed to enhance the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Person of Indian Origin (PIOs), through the primary market and stock exchanges, under the portfolio investment scheme (PIS) up to 49 per cent of its total paid up capital. The company has passed resolutions at the Board of Directors' level and by resolution by Postal Ballot to this effect by the shareholders.

The results of the RBI Repo/Reverse Repo auctions held on March 4, 2011 are: