** India’s central bank is likely to set a cut-off of 6.45 pct on auction of 317-day Treasury bills on Tuesday, a median estimate of six traders showed
** The highest expected bid was 6.47 pct and lowest 6.43 pct, according to the estimate.
** The Reserve Bank of India will sell 250 billion rupees ($3.90 billion) of the T-bills under market stabilisation scheme (MSS)
** The central bank is conducting the additional sale of T-bills under MSS to drain out excess liquidity from the banking system
** The last T-bill auction so far announced under MSS series is due on May 8 ($1 = 64.1650 Indian rupees)