**Executive Summary**
The Reserve Bank of India announces the auction of Government of India Treasury Bills, including 91-Day, 182-Day, and 364-Day bills. The auction is scheduled for January 21, 2026, with settlement on January 22, 2026. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Auction Date: January 21, 2026 (Wednesday)
* Settlement Date: January 22, 2026 (Thursday)
* Total Notified Amount: ₹29,000 crore
* 91-Day: ₹9,000 crore
* 182-Day: ₹12,000 crore
* 364-Day: ₹8,000 crore
* **Bidding Process:**
* Auction is price-based using a multiple price method.
* Bids must be submitted electronically on the E-Kuber system.
* **Bidding Timings:**
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* **Eligibility and Regulations:**
* The sale is subject to the terms 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, designated Foreign Central Banks, and other specified entities.
* Individuals can participate on a non-competitive basis as retail investors.
* Retail investors' allocation is capped at 5% of the notified amount.
* Individual investors can bid through the Retail Direct portal (https://rbiretaildirect.org.in).
* **Payment and Results:**
* Payment by successful bidders is due on Thursday, January 22, 2026.
* Results will be announced on the day of the auction.
* **Physical Bids (System Failure Only):**
* In the event of system failure, physical bids are accepted in the prescribed form.
* Must be submitted to the Public Debt Office before the auction timing ends.
**Impact Analysis**
**Stakeholder: Bidders (including banks, institutions, and individuals)**
* **Impact:** Need to participate in the auction on January 21, 2026, to purchase Government of India Treasury Bills. They will be affected by the allotment outcome.
* **Action Required:** Submit bids electronically via E-Kuber system within the stipulated timeframe. Ensure payment on January 22, 2026, if successful.
**Stakeholder: 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 if they do not have access to the E-Kuber system.
**Stakeholder: Reserve Bank of India**
* **Impact:** Responsible for conducting the auction and managing the settlement.
* **Action Required:** Conduct the auction as per the specified terms, announce results, and process payments.
Key Entities Referenced
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Governs the terms and conditions of the Treasury Bill auction.
Treasury Bills: 91-Day, 182-Day and 364-Day Treasury Bills are being auctioned.
Reserve Bank of India: Announces the auction of Government of India Treasury Bills.
Retail Direct portal: Individual investors can place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).
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)