**Executive Summary**
The Reserve Bank of India (RBI) has announced an auction of Government of India Treasury Bills, including 91-Day, 182-Day, and 364-Day bills. The auction will be conducted on October 29, 2025, with a settlement date of October 30, 2025. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills: 91-Day, 182-Day, and 364-Day.
* Notified Amount: ₹7,000 crore (91-Day), ₹6,000 crore (182-Day), ₹6,000 crore (364-Day), Total ₹19,000 crore
* Auction Date: October 29, 2025 (Wednesday).
* Settlement Date: October 30, 2025 (Thursday).
* **Participation:**
* The sale is subject to terms and conditions specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* Eligible participants include State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank.
* Non-competitive bids are allowed for specified entities, with allocation outside the notified amount.
* Retail investors can participate non-competitively, with allocation limited to 5% of the notified amount via the Retail Direct portal.
* **Bidding Process:**
* Auction is price-based using the multiple price method.
* Bids to be submitted electronically via RBI's Core Banking Solution (E-Kuber system).
* Bidding Timings:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* Auction results will be announced on the day of the auction.
* Payment by successful bidders is due on Thursday, October 30, 2025.
* Physical bids will be accepted only in the event of system failure.
**Impact Analysis**
**Government of India**
* **Impact:** The auction provides a mechanism for the Government of India to raise funds through the issuance of Treasury Bills.
* **Action Required:** Monitor the auction process and the demand for Treasury Bills.
**State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks**
* **Impact:** The auction provides an investment opportunity for these entities.
* **Action Required:** Decide whether to participate in the auction on a competitive or non-competitive basis.
**Retail Investors**
* **Impact:** Opportunity to invest in Treasury Bills through the non-competitive scheme.
* **Action Required:** If interested, place bids through the Retail Direct portal (https://rbiretaildirect.org.in) during the specified bidding window.
**Reserve Bank of India**
* **Impact:** Responsible for conducting the auction and managing the process.
* **Action Required:** Ensure smooth functioning of the auction process and address any technical difficulties that may arise.
Key Entities Referenced
Reserve Bank of India: Announces auction of Government of India Treasury Bills.
Government of India Treasury Bills: Subject of the auction announcement, including 91-Day, 182-Day and 364-Day bills.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The notification specifies the terms and conditions of the sale.
Retail Direct portal (https://rbiretaildirect.org.in): Portal through which individual investors can place bids.
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
October 24, 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
October 29, 2025 October 30, 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, October 29, 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, October 30, 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: 2025-2026/1376 Deputy General Manager
(Communications)