CURRENT AFFAIRS : BANKING & FINANCE
RBI rejects all bids for 91-day T-bill for first time in 7 years
- The Reserve Bank of India (RBI) rejected all bids received for the 91-day Treasury bill (T-bill) for the first time since February 2016.
What is the Treasury bill?
- T-bills are short-term, zero coupon debt instruments issued by the government.
- T-bills are currently issued in 3 tenors – 91-day, 182-day and 364-day and pay no interest.
- Treasury bills are instead issued at a discount and redeemed at the face value at maturity.
