Over the last two months, the Reserve Bank of India (RBI) has instituted several measures to contain the volatility in the foreign exchange market. On a review of the impact of these measures and for effective liquidity management, it has been decided that the RBI will auction Government of India Cash Management Bills for a notified amount of ` 22,000 crore once every week on Mondays. The duration of the auction will be announced one day prior to the date of auction.
Detailed guidelines in this regard are being issued separately.
