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 number: Press Release 2026-2027/1076
Date: 09 September 2026
Policy Rates and Liquidity
The auction resulted in cut‑off prices of 98.7180 for the 91‑day bill, 97.2753 for the 182‑day bill and 94.4300 for the 364‑day bill. Corresponding implied yields at the cut‑off were 5.2089% for the 91‑day, 5.6174% for the 182‑day and 5.9148% for the 364‑day Treasury Bills, indicating the prevailing short‑term market rates as of the auction date.
Capital Markets and Flows
The Reserve Bank notified a total face value of ₹9,000 crore for the 91‑day, ₹8,000 crore for the 182‑day and ₹7,000 crore for the 364‑day Treasury Bills. All notified amounts were fully subscribed, with the total face value accepted matching the notified values for each tenor, reflecting strong investor demand across the three maturities.
Regulatory and Policy Measures
The results are released in accordance with RBI’s standard communication protocol for government securities auctions. The press release is signed by Ajit Prasad, Deputy General Manager, Department of Communication, underscoring the official nature of the disclosure.
The auction outcome demonstrates the RBI’s continued use of Treasury Bills to manage short‑term liquidity and provides market participants with transparent pricing and yield information.