Question
In India, who is responsible for conducting auctions of
Treasury Bills (T-Bills) on behalf of the Government of India?Solution
Treasury Bills (T-Bills) are short-term debt instruments issued by the Government of India with maturities of 91 days, 182 days, and 364 days. • They are zero-coupon securities, meaning they do not pay periodic interest. Instead, they are issued at a discount to face value and redeemed at par, with the difference constituting the return to the investor. • In India, T-Bill auctions are conducted by the Reserve Bank of India (RBI), which acts as the debt manager for the Central Government. • This ensures transparency, liquidity, and efficient management of short-term government borrowing.
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