**Executive Summary**
The Reserve Bank of India (RBI) has announced the auction of Government of India Treasury Bills on January 21, 2026, for 91-Day, 182-Day, and 364-Day tenors. Bids must be submitted electronically through the E-Kuber system. Settlement date for successful bidders is January 22, 2026.
**Key Points / Main Content**
* **Auction Details:**
* Auction for 91-Day, 182-Day, and 364-Day Treasury Bills.
* Total notified amount is ₹29,000 crore.
* 91-Day: ₹9,000 crore
* 182-Day: ₹12,000 crore
* 364-Day: ₹8,000 crore
* Auction Date: January 21, 2026 (Wednesday).
* Settlement Date: January 22, 2026 (Thursday).
* **Eligibility:**
* The sale is subject to the terms and conditions in the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* Eligible participants: State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank.
* Individuals can participate on a non-competitive basis as retail investors, with a maximum allocation of 5% of the notified amount.
* **Bidding Process:**
* Price-based auction using multiple price method.
* Bids to be submitted electronically on the E-Kuber system on January 21, 2026.
* **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 on January 22, 2026.
* **Contingency:**
* Physical bids accepted only in the event of system failure, to be submitted to the Public Debt Office before auction timing ends.
* **Contact Information:**
* For technical difficulties, contact the Core Banking Operations Team.
* For auction-related difficulties, contact the IDMD auction team.
**Impact Analysis**
**Stakeholder: 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:** Can participate in the auction on a non-competitive basis.
**Action Required:** Submit bids through the E-Kuber system by the specified deadline if they wish to participate.
**Stakeholder: Individuals/Retail Investors**
**Impact:** Can participate in the auction on a non-competitive basis, with a maximum allocation of 5% of the notified amount, or through the Retail Direct portal.
**Action Required:** Submit bids through the E-Kuber system or Retail Direct portal by the specified deadline if they wish to participate.
**Stakeholder: Successful Bidders**
**Impact:** Allotted a specific amount of Treasury Bills at the agreed-upon price.
**Action Required:** Make payment on the settlement date, January 22, 2026.
Key Entities Referenced
Treasury Bills: Government of India Treasury Bills auctioned by the Reserve Bank of India, specifically 91-Day, 182-Day, and 364-Day.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Notification issued by the Government of India specifying the terms and conditions of the Treasury Bills auction.
Reserve Bank of India: The central bank of India, announcing the auction and operating the Core Banking Solution (E-Kuber system) for bid submission.
Retail Direct: Portal through which individual investors can place bids for the Treasury Bills under 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
January 16, 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 9,000
January 21, 2026 January 22, 2026
2 182-Day 12,000
(Wednesday) (Thursday)
3 364-Day 8,000
Total 29,000
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, January 21, 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, January 22, 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.2
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
Deputy General Manager
Press Release: 2025-2026/1938 (Communications)