Auction of 91-Day, 182-Day and 364-Day Treasury Bills

**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, with a total notified amount of ₹29,000 crore. The auction will be held on January 28, 2026, and settlement will occur on January 29, 2026. Bids are to be submitted electronically via the E-Kuber system. **Key Points / Main Content** * **Auction Details:** * 91-Day Treasury Bills: ₹9,000 crore * 182-Day Treasury Bills: ₹12,000 crore * 364-Day Treasury Bills: ₹8,000 crore * Total Notified Amount: ₹29,000 crore * **Dates:** * Auction Date: January 28, 2026 (Wednesday) * Settlement Date: January 29, 2026 (Thursday) * **Terms and Conditions:** * The sale is subject to terms specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025. * State Governments, Union Territories with legislature, eligible Provident Funds, Foreign Central Banks, and RBI-specified institutions can participate on a non-competitive basis. * Individuals can participate on a non-competitive basis as retail investors, with a maximum allocation of 5% of the notified amount. * Individual investors can bid through the Retail Direct portal (https://rbiretaildirect.org.in). * **Bidding Process:** * The auction will be price-based using a multiple price method. * Bids must be submitted electronically via the E-Kuber system. * **Bidding Timings:** * Competitive Bids: 10:30 am - 11:30 am * Non-Competitive Bids: 10:30 am - 11:00 am * **Results and Payment:** * Results will be announced on the day of the auction. * Payment by successful bidders is due on January 29, 2026 (Thursday). * **Contingency:** * In the event of system failure, physical bids will be accepted if submitted to the Public Debt Office before the auction timing ends. * A prescribed form is required and can be downloaded from the RBI website (https://rbi.org.in/en/web/rbi/forms). * **Contact Information:** * Core Banking Operations Team (for technical difficulties): email; Phone no: 022-69870466, 022-69870415. * IDMD auction team (for other auction related difficulties): email; Phone no: 022-22702431, 022-22705125. * Public Debt Office (for physical bids): email; Phone no: 022-22603456, 022-22603457, 022-22603190. **Impact Analysis** **State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank** * **Impact:** Ability to participate in the auction on a non-competitive basis, outside the notified amount. * **Action Required:** Submit bids according to the specified timelines and procedures. **Individuals (Retail Investors)** * **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis, with a limited allocation. * **Action Required:** Submit bids through the Retail Direct portal (https://rbiretaildirect.org.in) or through physical bids in the event of system failure according to the specified timelines and procedures. **Successful Bidders** * **Impact:** Obligation to pay for the allotted Treasury Bills. * **Action Required:** Make payment by January 29, 2026 (Thursday).

Key Entities Referenced