**Executive Summary**
The Reserve Bank of India (RBI) announces the auction of Government of India Treasury Bills with tenors of 91-day, 182-day, and 364-day. The auction will be held on December 10, 2025, with settlement on December 11, 2025. Bids must be submitted electronically through the RBI's E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Treasury bills of 91-day, 182-day, and 364-day tenors will be auctioned.
* The notified amounts are ₹7,000 crore, ₹6,000 crore, and ₹6,000 crore, respectively, totaling ₹19,000 crore.
* Auction date: December 10, 2025 (Wednesday)
* Settlement date: December 11, 2025 (Thursday)
* **Eligibility and Terms:**
* The sale is subject to the terms and conditions specified in Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, issued by the Government of India.
* State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and specified persons or institutions can participate on a non-competitive basis.
* Individuals can participate on a non-competitive basis, with the allocation restricted to 5% of the notified amount.
* Individuals can also place bids through the Retail Direct portal (https://rbiretaildirect.org.in).
* **Bidding Process:**
* The auction will be price-based using a multiple price method.
* Bids should be submitted electronically via the RBI's Core Banking Solution (E-Kuber) on December 10, 2025.
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* Results will be announced on the auction day.
* Payment by successful bidders is due on December 11, 2025.
* **Contingency for System Failure:**
* In case of system failure, physical bids can 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 downloadable from the RBI website.
**Impact Analysis**
**State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and any person or institution specified by the Bank**
* **Impact:** Can participate on a non-competitive basis, with allocation outside the notified amount.
* **Action Required:** Submit bids through E-Kuber as per the specified timelines.
**Individuals (Retail Investors)**
* **Impact:** Can participate on a non-competitive basis, with allocation restricted to a maximum of 5% of the notified amount, or through the Retail Direct portal.
* **Action Required:** Submit bids through E-Kuber as per the specified timelines or through the Retail Direct portal.
**Successful Bidders**
* **Impact:** Obligation to make payments for the allotted treasury bills.
* **Action Required:** Make the required payment on December 11, 2025.
**Core Banking Operations Team & IDMD auction team**
* **Impact:** Required to provide support for Technical Difficulties and Auction related queries.
* **Action Required:** Be available to provide support through the provided contact information.
Key Entities Referenced
Treasury Bills: Government of India Treasury Bills being auctioned by the Reserve Bank of India.
Reserve Bank of India: The central bank conducting the auction of Treasury Bills.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Specifies the terms and conditions for the sale of Treasury Bills.
E-Kuber system: Reserve Bank of India's Core Banking Solution (CBS) for submitting bids.
Retail Direct portal: A portal (https://rbiretaildirect.org.in) through which individual investors can 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
December 05, 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
December 10, 2025 December 11, 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, December 10, 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, December 11, 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-
22603457,022-22603190), before the auction timing ends, in the prescribed form. The2
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: 2025-2026/1643 Deputy General Manager
(Communications)