Document title: Treasury Bills: Full Auction Result
Issuing authority: Reserve Bank of India (RBI)
Date: August 27, 2026
Policy rates and liquidity
The RBI announced the auction of Treasury Bills with notified amounts of ₹9,000 crore for 91‑day, ₹8,000 crore for 182‑day and ₹7,000 crore for 364‑day maturities. Competitive bidding attracted 103 bidders for the 91‑day issue, 74 for the 182‑day issue and 87 for the 364‑day issue, amounting to ₹29,406.000 crore, ₹12,260.750 crore and ₹12,779.000 crore respectively. The cut‑off prices were 98.7046, 97.2750 and 94.5350 rupees, corresponding to yields to maturity of 5.2640%, 5.6181% and 5.7968%. Weighted average yields, reflecting the overall price accepted, were 5.2579% for the 91‑day, 5.5884% for the 182‑day and 5.7708% for the 364‑day bills.
Capital markets and flows
From the competitive bids, the RBI accepted 32 bids for the 91‑day issue amounting to ₹8,550.000 crore, 60 bids for the 182‑day issue amounting to ₹7,600.000 crore and 61 bids for the 364‑day issue amounting to ₹6,650.000 crore. Partial allotment percentages were 13.8798% for the 91‑day, 34.4091% for the 182‑day and 46.0000% for the 364‑day issues, reflecting the proportion of bids partially filled. Non‑competitive bids were also received: 11 bids totalling ₹14,877.918 crore for the 91‑day, 6 bids totalling ₹4,953.436 crore for the 182‑day and 3 bids totalling ₹381.864 crore for the 364‑day issue. All non‑competitive bids were accepted, with final accepted amounts of ₹14,861.000 crore, ₹4,946.350 crore and ₹350.000 crore respectively, and partial allotment percentages of 96.3767%, 98.2593% and 91.6557%.
The auction results indicate robust demand across all tenors, with competitive bid amounts exceeding the notified issues by more than three times for the 91‑day bill and by roughly 1.5 times for the longer tenors. The yields remain within the RBI’s target range, suggesting stable market expectations for short‑term government securities.