Document title: 91-Day, 182-Day and 364-Day T‑Bill Auction Result: Cut‑off
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/1359
Date: October 21, 2026
Policy Rates and Liquidity
The RBI announced that for the 91‑day, 182‑day and 364‑day Treasury Bill auctions, the total face value notified was ₹8,000 crore for the 91‑day and 182‑day tenors and ₹7,000 crore for the 364‑day tenor. No bids were received; consequently, the cut‑off price and implicit yield were not applicable, and the total face value accepted was NIL for all three tenors.
Capital Markets and Flows
The absence of any accepted bids indicates a lack of demand for the short‑term Treasury Bills in this auction cycle, reflecting market participants’ current stance toward RBI’s liquidity instruments.
Regulatory and Policy Measures
The press release was issued by Deputy General Manager Ajit Prasad of the RBI’s Communications Department, providing official confirmation of the auction outcome.
The RBI’s latest Treasury Bill auction resulted in zero participation across all tenors, with no price or yield determined, underscoring a temporary disconnect between the central bank’s issuance plans and market appetite.