Document title: Treasury Bills: Full Auction Result
Issuing authority: Reserve Bank of India
Date: 04 November 2026
Policy Rates and Liquidity
The RBI set the cut‑off price for the 91‑day Treasury Bill at 98.5511 ₹, corresponding to a yield‑to‑maturity of 5.8970 %. The weighted‑average price (WAY) for the 91‑day issue was 98.5535 ₹, implying a weighted‑average yield of 5.8871 %. For the 364‑day Treasury Bill the cut‑off price was 93.7820 ₹ (YTM 6.6485 %) and the WAY was 93.7956 ₹, giving a weighted‑average yield of 6.6330 %. No cut‑off price or yield is reported for the 182‑day issue in this release.
Capital Markets and Flows
The auction covered three tenors: 91‑day, 182‑day and 364‑day Treasury Bills with notified amounts of ₹8,000 crore, ₹8,000 crore and ₹7,000 crore respectively. Competitive bids received totaled 125 bids amounting to ₹20,465.330 crore for the 91‑day issue, 81 bids amounting to ₹17,031.500 crore for the 182‑day issue, and 116 bids amounting to ₹18,875.000 crore for the 364‑day issue, all exceeding the notified amounts. The RBI accepted 57 competitive bids for the 91‑day issue (₹7,600.000 crore) and 49 competitive bids for the 364‑day issue (₹6,650.000 crore); the 182‑day competitive bids were not accepted in this release. Partial allotment was applied to three competitive bids in the 91‑day auction (41.1675 %) and to one competitive bid in the 364‑day auction (40.0000 %). Non‑competitive bids received were 14 bids totaling ₹29,988.084 crore for the 91‑day issue, 6 bids totaling ₹827.916 crore for the 182‑day issue, and 5 bids totaling ₹1,220.751 crore for the 364‑day issue. All non‑competitive bids were accepted, with amounts of ₹29,958.140 crore (91‑day), no acceptance data for 182‑day, and ₹1,175.860 crore (364‑day). The partial allotment percentages for non‑competitive bids were 93.0354 % for the 91‑day issue and 88.6321 % for the 364‑day issue.
The RBI’s auction results indicate strong demand for government securities across all tenors, with competitive bids substantially surpassing the notified amounts and yields reflecting current market conditions.