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CAT 2003 | Question: 1-65

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Answer the question on the basis of the information given below:

One of the functions of the RBI is to mobilize funds for the Govt of India by issuing securities. The following table shows details of funds mobilized during the period July $2002$-July $2003.$ Notice that on each date there were two rounds of issues, each with a different maturity.

Which of the following is $\text{NOT}$ true?

  1. Competitive bids received always exceed non-competitive bids received
  2. The number of competitive bids accepted does not always exceed the number of non-competitive bids accepted.
  3. The value of competitive bids accepted on any particular date is never higher for higher maturity.
  4. The value of the competitive bids accepted in the first round is always greater than that in the second round.

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