Document Title: 91-Day, 182-Day and 364-Day T‑Bill Auction Result: Cut‑off
Issuing Authority: Reserve Bank of India (RBI)
Reference: Press Release 2026‑2027/972
Date: 27 August 2026
Policy Rates and Liquidity
The RBI announced the results of its Treasury Bill auction for tenors of 91 days, 182 days and 364 days. The total face value notified and accepted were ₹9,000 crore for the 91‑day bill, ₹8,000 crore for the 182‑day bill and ₹7,000 crore for the 364‑day bill, indicating complete subscription. The cut‑off prices were 98.7046 for the 91‑day, 97.2750 for the 182‑day and 94.5350 for the 364‑day bills, translating to yields at cut‑off of 5.2640%, 5.6181% and 5.7968% respectively.
Capital Markets and Flows
The full acceptance of the notified face values reflects robust demand for short‑term government securities and contributes to market liquidity. The yields implied by the cut‑off prices suggest the prevailing cost of borrowing for the government over the respective tenors. The press release was issued by Deputy General Manager Ajit Prasad of the RBI’s Department of Communication.
The auction outcome demonstrates the RBI’s ongoing management of short‑term liquidity in the government securities market, with yields remaining within the 5.2‑5.8% range across the three tenors.