Gilt Auction
Every year, the government raises huge amounts of money -running into lakhs of crores of rupees -through various means to meet its deficit. One of the ways is to sell government securities (gilts) of different maturities - from just a year to 30 years or even more -in the market. To sell these gilts at the highest possible price that investors are willing to pay, the Reserve Bank of India auctions them on behalf of the government. It's mainly in the last week of every March and September that the RBI informs the market about the government's plans to auction gilts for the next half of the fiscal. And usually every Monday, the RBI informs the market about the gilt auction that takes place on the following Friday.
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