Document title: RBI T‑Bill Auction Cut‑off Prices 98.68‑94.56%
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026‑2027/732
Date: July 22, 2026
Policy Rates and Liquidity
The RBI disclosed the cut‑off prices for its Treasury bill auctions across three tenors. The 91‑day bill recorded a cut‑off price of 98.6827, the 182‑day bill 97.2789 and the 364‑day bill 94.5634. These prices translate into yields to maturity of 5.3542% for the 91‑day instrument, 5.6098% for the 182‑day instrument and 5.7650% for the 364‑day instrument, indicating the cost of short‑term government borrowing at the time of the auction.
Capital Markets and Flows
The total face value notified for the three auctions matched the total face value accepted, confirming full subscription. The notified and accepted amounts were ₹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. The complete acceptance reflects robust demand from market participants for RBI Treasury securities during this period.
The press release was issued by Deputy General Manager Ajit Prasad of the Communications Department, underscoring the RBI’s commitment to transparent dissemination of auction outcomes. This announcement provides market participants with definitive pricing and yield information for short‑term sovereign instruments, aiding liquidity management and investment decisions.