**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) announcing the auction of Government of India Treasury Bills with maturities of 91-Day, 182-Day, and 364-Day. The auction is scheduled for February 25, 2026, and the settlement date is February 26, 2026. Bids must be submitted electronically through the RBI's E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* The total notified amount for the auction is ₹34,000 crore, split across 91-Day (₹14,000 crore), 182-Day (₹12,000 crore), and 364-Day (₹8,000 crore) Treasury Bills.
* The auction will be price-based using a multiple price method.
* Bids must be submitted electronically through the RBI's E-Kuber system on February 25, 2026 (Wednesday).
* **Bidding and Participation:**
* Bids can be competitive or non-competitive.
* State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank are eligible for non-competitive bidding.
* Retail investors can participate on a non-competitive basis, with allocation restricted to a maximum of 5% of the notified amount. They can also place bids through the Retail Direct portal (https://rbiretaildirect.org.in).
* **Timings and Submission:**
* Competitive bids: 10:30 am - 11:30 am
* Non-competitive bids: 10:30 am - 11:00 am
* **Payment and Results:**
* Payment by successful bidders must be made on February 26, 2026 (Thursday).
* Auction results will be announced on the day of the auction (February 25, 2026).
* **Contingency and Support:**
* In case of system failure, physical bids are accepted and should be submitted to the Public Debt Office before the auction timing ends, using a prescribed form (available at https://rbi.org.in/en/web/rbi/forms).
* For technical difficulties, contact the Core Banking Operations Team by email.
* For auction-related difficulties, contact the IDMD auction team by email.
**Impact Analysis**
**Stakeholder: Bidders (Banks, Financial Institutions, Individuals)**
* **Impact:** Opportunity to invest in Government of India Treasury Bills and manage their liquidity.
* **Action Required:** Prepare and submit bids electronically via the E-Kuber system within the specified timings on February 25, 2026.
**Stakeholder: Reserve Bank of India**
* **Impact:** Manages the auction process and ensures compliance with regulations.
* **Action Required:** Conduct the auction as per the guidelines, announce the results, and facilitate the settlement process.
**Stakeholder: Government of India**
* **Impact:** Raises funds through the issuance of Treasury Bills to meet its financing needs.
* **Action Required:** Monitor the auction results and manage its debt obligations.
Key Entities Referenced
Reserve Bank of India: Central bank responsible for auctioning Government of India Treasury Bills.
Government of India Treasury Bills: The securities being auctioned in this press release.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The primary notification governing the terms and conditions of the treasury bill auction.
E-Kuber system: The Reserve Bank of India's Core Banking Solution used for submitting bids in the auction.
Retail Direct portal: Portal for individual investors to participate in the non-competitive scheme.
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
February 20, 2026
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 14,000
February 25, 2026 February 26, 2026
2 182-Day 12,000
(Wednesday) (Thursday)
3 364-Day 8,000
Total 34,000
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, February 25, 2026, 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, February 26, 2026.
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 form2
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: 2025-2026/2147 Deputy General Manager
(Communications)