Document title: 91-Day, 182-Day and 364-Day T‑Bill Auction Result: Cut‑off
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release: 2026-2027/1124
Date: 16 September 2026
Policy rates and liquidity
The RBI disclosed the cut‑off prices and corresponding yields for three Treasury bill tenors. The 91‑day bill posted a cut‑off price of 98.7007, implying a yield to maturity of 5.2801 %. The 182‑day bill’s cut‑off price was 97.2128, yielding 5.7500 %. For the 364‑day bill, the cut‑off price was 94.3200, with a yield of 6.0386 %. These rates reflect the RBI’s current stance on short‑term liquidity management.
Capital markets and flows
The auction notified total face values 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 accepted, indicating complete subscription across all tenors. The full acceptance underscores robust demand for short‑term government securities in the market.
The RBI’s auction results demonstrate continued investor appetite for Treasury bills and provide a benchmark for short‑term interest rates, supporting its liquidity management objectives. This content may not be financially relevant.