**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 November 19, 2025, with settlement on November 20, 2025. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **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: ₹19,000 crore.
* Auction Date: November 19, 2025 (Wednesday).
* Settlement Date: November 20, 2025 (Thursday).
* **Bidding Process:**
* The auction is price-based, using a multiple price method.
* Bids must be submitted electronically via the Reserve Bank of India's Core Banking Solution (E-Kuber system).
* Competitive bids: 10:30 am - 11:30 am.
* Non-Competitive bids: 10:30 am - 11:00 am.
* Results will be announced on the day of the auction.
* **Eligibility and Participation:**
* The sale is subject to the terms and conditions specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2018, 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 can participate on a non-competitive basis.
* Individuals can participate on a non-competitive basis, as retail investors. Allocation for retail investors is capped at 5% 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).
* **Payment and Contingency:**
* Successful bidders must make payments on Thursday, November 20, 2025.
* Physical bids are accepted only in the event of system failure and must be submitted to the Public Debt Office before the auction timing ends.
**Impact Analysis**
**Stakeholder: Potential Bidders (Banks, Institutions, Individuals)**
* **Impact**: Provides an opportunity to invest in Government of India Treasury Bills.
* **Action Required**: Prepare bids and submit them electronically through the E-Kuber system within the specified time frame, or submit physical bids if the system fails.
**Stakeholder: Reserve Bank of India**
* **Impact**: Manages the auction process and ensures adherence to the specified terms and conditions.
* **Action Required**: Conduct the auction as per the schedule, evaluate bids, and announce the results.
**Stakeholder: Government of India**
* **Impact**: Raises funds through the issuance of Treasury Bills.
* **Action Required**: Monitor the auction results and manage its finances accordingly.
Key Entities Referenced
Reserve Bank of India: Central bank of India, announces auction of Government of India Treasury Bills
Government of India Treasury Bills: Subject of the auction announced by the Reserve Bank of India
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Specifies terms and conditions of the sale of Treasury Bills.
Retail Direct portal (https://rbiretaildirect.org.in): Portal through which Individual investors can also place bids as per the non-competitive scheme
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
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 14, 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
November 19, 2025 November 20, 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, November 19, 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, November 20, 2025.
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, 022-2
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: 2025-2026/1507 Deputy General Manager
(Communications)