Document title: 91-Day, 182-Day and 364-Day T‑Bill Auction Result: Cut‑off
Issuing authority: Reserve Bank of India (RBI)
Reference number: 2026-2027/812
Date: 5 August 2026
Policy Rates and Liquidity
The RBI announced the cut‑off prices for the three tenors of Treasury Bills auctioned on 5 August 2026. The 91‑day bill had a cut‑off price of 98.7012, corresponding to a yield to maturity (YTM) of 5.2780 per cent. The 182‑day bill’s cut‑off price was 97.3071, yielding 5.5501 per cent. The 364‑day bill’s cut‑off price was 94.6215, yielding 5.6998 per cent. These yields reflect the prevailing market rates for short‑term government securities and are indicative of the RBI’s liquidity stance.
Capital Markets and Flows
The total face value notified for the auction 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, amounting to a combined ₹24,000 crore. The total face value accepted matched the notified amounts for each tenor, indicating full subscription of the issue. This complete acceptance demonstrates robust demand for RBI Treasury Bills in the primary market.
Regulatory and Policy Measures
The press release, identified as 2026-2027/812, was issued by Deputy General Manager Ajit Prasad of the RBI’s Department of Communication. The announcement forms part of the RBI’s regular monetary operations to manage short‑term liquidity and guide market expectations on interest rates.
The auction results provide a clear snapshot of the RBI’s short‑term funding operations and the prevailing yield environment for Treasury Bills.