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Our Bureau

Mumbai, July 31

The Reserve Bank of India has announced the auction of two government securities for Rs 9,000 crore on August 8 using multiple price method. The two G-Sec papers are 9.39 per cent 5-year 2011 paper for Rs 6,000 crore and the 7.59 per cent 10-year 2016 paper for Rs 3,000 crore, said a press release from RBI. After taking into account all relevant schedules, it has been decided to lower the tenure for the Rs 6,000 crore paper to five years from 5-9 years and for the Rs 3,000 crore paper to 10 years from 20 years, the release said. Both stocks will be eligible for `When Issued' trading from August 1 to August 7.

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