Document title: 91-Day, 182-Day and 364-Day T-Bill Auction Result: Cut-off
Issuing authority: Reserve Bank of India, Department of Communication
Reference: Press Release 2026-2027/423
Date: June 10, 2026
Policy Rates and Liquidity
The Reserve Bank of India conducted an auction of Treasury Bills with tenors of 91 days, 182 days and 364 days. The total face value notified for the 91‑day bill was ₹12,000 crore, while ₹6,000 crore each was notified for the 182‑day and 364‑day bills. All notified amounts were fully accepted, indicating strong demand. The cut‑off price for the 91‑day bill was 98.6959, which translates to an implicit yield to maturity of 5.2998%. For the 182‑day bill, the cut‑off price stood at 97.3072, corresponding to a yield of 5.5498%. The 364‑day bill’s cut‑off price was 94.4342, yielding 5.9100% at maturity.
Capital Markets and Flows
The auction results show that the market absorbed the entire volume of Treasury Bills offered, reflecting robust liquidity conditions in the short‑term money market. The uniform acceptance across all tenors underscores investor confidence in RBI’s debt issuance program and the prevailing yield environment.
The RBI’s Treasury Bill auction on June 10, 2026 demonstrates effective liquidity management through full subscription of the announced face values and yields ranging from 5.30% to 5.91% across the three tenors.