The Reserve Bank of India has today announced the auction of 35-day Government of India Cash Management Bills for a notified amount of Rs. 6,000 crore. The auction will be conducted on June 28, 2011 using "Multiple Price Auction" method. The Cash Management Bills will be repaid at par on August 3, 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 Tuesday, June 28, 2011. Results will be announced on the same day. Payments by successful bidders will be on Wednesday, June 29, 2011.

The Government of India have announced the sale (re-issue) of (i) “7.83 percent Government Stock 2018” for a notified amount of ` 3,000 crore (nominal), (ii) “7.80 percent Government Stock 2021” for a notified amount of ` 6,000 crore (nominal), (iii) “8.26 percent Government Stock 2027” for a notified amount of ` 3,000 crore (nominal) and (iv) “8.30 percent Government Stock 2040” for a notified amount of ` 3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 1, 2011 (Friday).

Dr. D. Subbarao, Governor, Reserve Bank of India will announce the First Quarter Review of Monetary Policy 2011-12 on Tuesday, July 26, 2011. This will be done in a meeting with the chief executives of major scheduled commercial banks at 11.00 a.m. on July 26, 2011 at the Central Office, Reserve Bank of India, Mumbai.