Document title: Treasury Bills: Full Auction Result
Issuing authority: Reserve Bank of India
Date: July 08, 2026
Policy rates and liquidity
The Reserve Bank of India notified a total of ₹24,000 crore of Treasury Bills across three tenors – ₹9,000 crore for 91‑day, ₹8,000 crore for 182‑day and ₹7,000 crore for 364‑day instruments. Competitive bids received amounted to ₹58,322.910 crore, substantially exceeding the notified amounts. The cut‑off prices were 98.6966, 97.3378 and 94.6575 rupees per 100 rupees face value, corresponding to yields of 5.2970%, 5.4851% and 5.6595% respectively. Weighted average yields (WAY) were marginally higher at 5.2702%, 5.4753% and 5.6583% for the three tenors, indicating the effective cost of borrowing for the government.
Capital markets and flows
A total of 269 competitive bids were received: 69 for the 91‑day, 104 for the 182‑day and 96 for the 364‑day bills. Of these, 110 bids were accepted amounting to ₹23,710.531 crore (₹8,979.981 crore for 91‑day, ₹7,990.259 crore for 182‑day and ₹6,740.291 crore for 364‑day). Partial allotment percentages were 58.8228% for the 91‑day, 89.3128% for the 182‑day and 84.9963% for the 364‑day issues. Non‑competitive bids numbered 15 in total (7 for 91‑day, 3 for 182‑day, 5 for 364‑day) and were fully accepted, amounting to ₹6,089.469 crore.
The auction results reflect robust demand for government securities, with yields marginally above the cut‑off levels, and demonstrate the RBI’s ongoing management of market liquidity through Treasury Bill operations. This content may not be financially relevant.