Document title: Auction of 91-Day, 182-Day and 364-Day Treasury Bills
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/1193
Date: September 25, 2026
Capital Markets and Flows
The Reserve Bank of India announced the auction of Government of India Treasury Bills in three tenors: 91‑day (₹9,000 crore), 182‑day (₹8,000 crore) and 364‑day (₹7,000 crore), bringing the total notified amount to ₹24,000 crore. The auction will be conducted on a price‑based multiple‑price method. Bids must be submitted electronically through the RBI’s Core Banking Solution (E‑Kuber system) on Wednesday, September 30, 2026. Competitive bids are accepted between 10:30 am and 11:30 am, while non‑competitive bids are accepted between 10:30 am and 11:00 am. Results will be announced on the same day, and successful bidders must make payment on Thursday, October 1, 2026.
Retail investors may participate on a non‑competitive basis through the Retail Direct portal, but their allocation is capped at a maximum of 5 percent of the notified amount for each issue. State Governments, Union Territories with legislatures, eligible Provident Funds, designated foreign central banks and other persons or institutions specified by the RBI may also bid on a non‑competitive basis, with allocations outside the notified amount.
Regulatory and Policy Measures
The auction is governed by the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended. In the event of a system failure, physical bids may be submitted to the Public Debt Office using the prescribed form available on the RBI website. Technical difficulties with the electronic platform should be reported to the Core Banking Operations Team, while other auction‑related issues can be directed to the IDMD auction team. The press release is signed by Ajit Prasad, Deputy General Manager, indicating the RBI’s procedural oversight of the auction.
The announcement underscores the RBI’s role in facilitating government debt issuance, ensuring transparent price discovery, and providing multiple participation channels for institutional and retail investors.