**Executive Summary**
The Reserve Bank of India (RBI) announces the auction of Government of India Treasury Bills, including 91-Day, 182-Day, and 364-Day bills. The auction is scheduled for December 03, 2025, with settlement on December 04, 2025. Bids must be submitted electronically via the RBI's E-Kuber system.
**Key Points / Main Content**
* **Treasury Bill Auction Details:**
* 91-Day Treasury Bills: Notified amount of ₹7,000 crore.
* 182-Day Treasury Bills: Notified amount of ₹6,000 crore.
* 364-Day Treasury Bills: Notified amount of ₹6,000 crore.
* Total notified amount for all bills: ₹19,000 crore.
* Auction Date: December 03, 2025 (Wednesday).
* Settlement Date: December 04, 2025 (Thursday).
* **Bidding Process:**
* The sale is subject to the terms specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* Bidding will be Price based using multiple price method.
* Bids must be submitted electronically on RBI's E-Kuber system.
* Bidding Timings:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* **Eligibility and Allocation:**
* State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank can participate on a non-competitive basis.
* Allocation for non-competitive bids will be outside the notified amount.
* Individuals can participate on non-competitive basis as retail investors.
* Retail investor allocation is restricted to a maximum of 5% of the notified amount.
* Individuals can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).
* **Results and Payment:**
* Auction results will be announced on the day of the auction.
* Payment by successful bidders is due on Thursday, December 04, 2025.
* **Contingency and Support:**
* In case of system failure, physical bids will be accepted if submitted before the auction timing ends, using the prescribed form. The form can be downloaded from the RBI website (https://rbi.org.in/en/web/rbi/forms).
* For technical difficulties, contact the Core Banking Operations Team via email or at 022-69870466, 022-69870415.
* For other auction-related difficulties, contact the IDMD auction team via email or at 022-22702431, 022-22705125.
**Impact Analysis**
**Government of India**
* **Impact:** The Government raises funds through the issuance of Treasury Bills.
* **Action Required:** Monitor auction results and manage funds accordingly.
**Reserve Bank of India**
* **Impact:** RBI facilitates the auction process.
* **Action Required:** Conduct the auction, process bids, announce results, and manage the settlement.
**Banks and Financial Institutions**
* **Impact:** Opportunity to invest in Government Treasury Bills.
* **Action Required:** Submit bids through the E-Kuber system within the specified timeframe.
**State Governments, Union Territories, Provident Funds, Foreign Central Banks, and Specified Institutions**
* **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis.
* **Action Required:** Submit bids through the E-Kuber system within the specified timeframe.
**Retail Investors**
* **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis through the Retail Direct portal.
* **Action Required:** Submit bids through the Retail Direct portal (https://rbiretaildirect.org.in) within the specified timeframe.
Key Entities Referenced
Reserve Bank of India: The central bank of India, announcing the auction of Treasury Bills and specifying the process.
Treasury Bills: Government of India Treasury Bills, which are being auctioned with varying durations (91-Day, 182-Day, 364-Day).
General Notification F.No.4(2)-B(W&M)/2018: A notification issued by the Government of India containing the terms and conditions of the sale of Treasury Bills.
E-Kuber system: Reserve Bank of India's Core Banking Solution, the electronic system for submitting bids.
Retail Direct portal: A scheme through which individual investors can place bids for non-competitive treasury bills.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
November 28, 2025
Auction of 91-Day, 182-Day and 364-Day Treasury Bills
Reserve Bank of India announces the auction of Government of India Treasury Bills
as per the following details:
Notified
Sr.
Treasury Bill Amount Auction Date Settlement Date
No.
(₹ crore)
1 91-Day 7,000
December 03, 2025 December 04, 2025
2 182-Day 6,000
(Wednesday) (Thursday)
3 364-Day 6,000
Total 19,000
The sale will be subject to the terms and conditions specified in the General
Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, issued by Government of
India, as amended from time to time. State Governments, Union Territories with
legislature, eligible Provident Funds in India, designated Foreign Central Banks and any
person or institution specified by the Bank in this regard can participate on non-
competitive basis, the allocation for which will be outside the notified amount. Individuals
can also participate on non-competitive basis, as retail investors. For retail investors, the
allocation will be restricted to a maximum of 5 percent of the notified amount. Individual
investors can also place bids as per the non-competitive scheme through the Retail
Direct portal (https://rbiretaildirect.org.in).
The auction will be Price based using multiple price method. Bids for the auction
should be submitted in electronic format on the Reserve Bank of India’s Core Banking
Solution (E-Kuber system) on Wednesday, December 03, 2025, during the below given
timings:
Category of Bids Timing
Competitive 10:30 am - 11:30 am
Non-Competitive 10:30 am - 11:00 am
Results will be announced on the day of the auction.
Payment by successful bidders will have to be made on Thursday, December 04, 2025.2
Only in the event of system failure, physical bids would be accepted. Such physical
bids should be submitted to the Public Debt Office (email; Phone no: 022-22603456, 022-
22603457,022-22603190), before the auction timing ends, in the prescribed form. The
form can be downloaded from RBI website (https://rbi.org.in/en/web/rbi/forms). In case of
technical difficulties, Core Banking Operations Team should be contacted at email;
Phone no: 022-69870466, 022-69870415. For other auction related difficulties, IDMD
auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).
Ajit Prasad
Press Release: 2025-2026/1584 Deputy General Manager
(Communications)