India's Central Bank cancels auctions

By agencies   |   Wednesday, 27 July 2005, 07:00 Hrs
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MUMBAI: India's Central Bank said on Wednesday it had cancelled the repo, reverse repo, 91-day and 182-day treasury bill auctions after incessant rainfall in the country's financial hub disrupted normal life.

Earlier Maharashtra, declared a public holiday under the Negotiable Instruments Act in all affected parts of the state.

A holiday under the act covers banks, including the Central Bank and there will not be any trading in the foreign exchange, debt and money markets in Mumbai on Wednesday.

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