ICRA assigns LAAA rating to Tata Tea debentures: ICRA has assigned an LAAA rating to the Rs 75 crore non-convertible debenture programme of Tata Tea Ltd. The rating indicates highest safety. The rating agency has assigned an A1+ rating to the Rs 2.5 crore commerical paper programme of Controls and Switchgear Company.

91-day T-bills auction: The cut-off yield on the 91-day treasury bills, auctioned on Friday, remained unchanged. The auction, carrying a notified amount of Rs 200 crore, received six competitive bids worth Rs 265 crore and two non-competitive bids worth Rs 250.65 crore. The central bank accepted fivecompetitive bids and pegged the weighted average price at Rs 98.11. There was no devolvement on either the RBI or the primary dealers.