RBI asks for use of ‘Price/Yield range setting’ to prevent errors on e-Kuber
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- Last Updated on 13 January, 2023
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Circular No. RBI/2022-23/163 IDMD.No.S2800/08.02.032/2022-23, Dated 11.01.2023
Earlier, RBI advised the participants in the Government Securities (G-Sec) market about the “Price / Yield range setting” facility provided on the e-Kuber platform as a risk management measure. This helps to define a range i.e., a max. and a min. value for bids in an auction. This was expected to eliminate instances of Fat-finger / Big-figure error by the bidders.
Now, in order to eliminate instances of Fat-finger/Big-figure error by the bidders in the G-Sec auctions, the RBI has advised all market participants to utilize the “Price/ Yield range setting” facility provided on the e-Kuber platform before placing bids in the Primary Market auctions. Also, It may be noted that no request for cancellation of bids will be entertained after the close of auction window.
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