RBI 91‑364 Day T‑Bill Auction Yields 5.33‑5.72%

Document title: 91-Day, 182-Day and 364-Day T‑Bill Auction Result: Cut‑off

Issuing authority: Reserve Bank of India

Reference: Press Release 2026-2027/671

Date: 15 July 2026

Policy rates and liquidity

The RBI announced the results of its Treasury Bill auction for three tenors. The total face value notified was ₹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. All notified amounts were fully accepted. The cut‑off prices were 98.6880 for the 91‑day, 97.2980 for the 182‑day and 94.6038 for the 364‑day bills, which correspond to yields (YTM) of 5.3324 %, 5.5693 % and 5.7197 % respectively.

Capital markets and flows

Full subscription of the Treasury Bills indicates strong demand in the money‑market segment and reflects the effectiveness of the RBI’s liquidity management operations.

The auction results demonstrate the RBI’s continued use of Treasury Bills to absorb liquidity and manage short‑term market rates.