Document title: Treasury Bills: Full Auction Result
Issuing Authority: Reserve Bank of India, Department of Communication
Reference: Press Release 2026-2027/1218
Date: 30 September 2026
Capital Markets and Flows
The Reserve Bank of India conducted a full auction of Treasury Bills for three tenors on 30 September 2026. The notified amounts were ₹9,000 crore for 91‑day bills, ₹8,000 crore for 182‑day bills, and ₹7,000 crore for 364‑day bills. Competitive bids received amounted to ₹14,440.5 crore (63 bids) for the 91‑day tenor, ₹11,531.5 crore (58 bids) for the 182‑day tenor, and ₹18,010.0 crore (78 bids) for the 364‑day tenor, reflecting bid‑to‑cover ratios of 98.64, 97.11 and 94.19 respectively. Accepted competitive bids were ₹8,550.0 crore (49 bids) for 91‑day, ₹7,600.0 crore (47 bids) for 182‑day, and ₹6,650.0 crore (26 bids) for 364‑day bills, with partial allotment percentages of 94.95 %, 85.53 % and 35.57 % respectively. Non‑competitive bids received totaled ₹966.565 crore, ₹909.579 crore and ₹765.550 crore across the three tenors, all of which were accepted in full or near‑full, resulting in partial allotment percentages of 96.45 %, 97.66 % and 95.75 % respectively.
Policy Rates and Liquidity
The cut‑off yields for the auction were 5.5199 % (91‑day), 5.9601 % (182‑day) and 6.1798 % (364‑day). The weighted average yields, reflecting the overall price paid by successful bidders, were marginally lower at 5.4902 %, 5.9373 % and 6.1705 % for the respective tenors. These yields provide an indication of market‑determined rates for short‑term government securities at the time of the auction.
The release is signed by Ajit Prasad, Communications, Deputy General Manager.