TABLE-Sales under India's Market Stabilisation Scheme 2008/09

Jul 04 (Reuters) - The Reserve Bank of India has issued bonds
and treasury bills under the Market Stabilisation Scheme (MSS)
totalling 435.00 billion rupees and redeemed bonds worth
500.00 billion rupees since the current financial year which
began on April 2008.
The government has issued 91-day treasury bills worth 165.00
billion rupees, 182-days treasury bill worth 70.00 billion
rupees, 364-day treasury bills worth 90.00 billion and bonds
worth 110.00 billion rupees and redeemed bonds worth 500.00
billion rupees.

Under the MSS scheme, the central bank issues bonds to soak
up the additional cash in the banking system generated by its
own intervention.

Though it sells treasury bills under this scheme weekly, it
resumed selling dated securities from March 2006 after a gap of
nearly 18 months.

According to the central bank's website, the total
outstanding balance under the MSS stood at 228.90 billion
rupees as on Jun 26 2009,below a self-imposed limit of 2.48
trillion rupees.
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Sale Bond Target sale Cut-off Wtd. Avg.
date amount price/yield price/yield

(rupees/%) (rupees/%)
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Sep 02 182-Day T-bill 20 95.67/9.0768 95.68 Sep 02

91-Day T-bill 20 97.80/9.0227 97.81 Aug 27
91-Day T-bill 15 97.79/9.0646 97.79 Aug 27 364-Day
T-bill 10 91.61/9.1835 91.64 Aug 20 182-Day
T-bill 10 95.56/9.3181 95.57 Aug 13 364-Day T-bill
15 91.52/9.2912 91.57 Aug 06 182-Day T-bill 10
95.57/9.2962 95.59 Jul 30 364-Day T-bill 10
91.30/9.5552 91.31 Jul 23 91-Day T-bill 25
97.79/9.0646 97.80 Jul 23 182-Day T-bill 10
95.56/9.3181 95.58 Jul 16 364-Day T-bill 10
91.39/9.4470 91.42 Jul 16 91-Day T-bill 25
97.78/9.1066 97.80 Jul 09 182-Day T-bill 10
95.55/9.3401 95.58 May 14 91-Day T-bill 5
98.19/7.3937 98.20 May 14 182-Day T-bill 10
96.36/7.5758 96.38 May 07 364-Day T-bill 25
93.00/7.5476 93.05 Apr 30 6.57% 2011 30
96.76/7.8712 96.82 Apr 23 91-Day T-bill 20
98.18/7.4353 98.19 Apr 23 364-Day T-bill 10
92.88/7.6869 92.92 Apr 16 91-Day T-bill 25
98.18/7.4353 98.20 Apr 16 6.57% 2011 30
96.20/8.0827 96.26 Apr 10 6.57% 2011 50
96.52/7.9452 96.76 Apr 09 91-Day T-bill 30
98.23/7.2274 98.27 Apr 09 364-Day T-bill 10
93.15/7.3739 93.18
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Outstanding securities issued (in billion rupees) 435.00
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MSS REDEMPTION
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Buy Bond Target Cut-off Wtd. Avg.
date purchase price/yield price/yield

amount (rupees/%) (rupees/%)
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Jan 29 7.55% 2010 30 104.02/4.2891 103.98 Jan
16 6.57% 2011 30 104.52/4.2906 104.23 Jan 01
7.55% 2010 50 103.83/4.6023 103.78 Dec 12
5.87% 2010 50 100.75/5.1221 100.30 Dec 12 7.55%
2010 50 102.76/5.4891 102.49 Nov 21 5.87%
2010 40 99.22/6.6056 99.01 Nov 21 7.55% 2010
50 101.15/6.7142 100.87 Nov 14 6.65% 2009 50
99.94/6.7846 99.92 Nov 14 5.87% 2010 50
98.92/6.8752 98.89 Nov 07 6.65% 2009 50
99.94/6.7814 99.90 Nov 07 5.48% 2009 50
99.23/6.8243 99.16
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Outstanding securities redeemed (in billion rupees) 500.00
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