**Executive Summary**
This document announces the Reserve Bank of India's auction of Government of India Treasury Bills, including 91-Day, 182-Day, and 364-Day bills. The auction will take place on December 10, 2025, with settlement on December 11, 2025. Bids must be submitted electronically through the RBI's Core Banking Solution (E-Kuber system).
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills: 91-Day, 182-Day, and 364-Day.
* Total Notified Amount: ₹19,000 crore (₹7,000 crore for 91-Day, ₹6,000 crore for 182-Day, and ₹6,000 crore for 364-Day).
* Auction Date: December 10, 2025 (Wednesday).
* Settlement Date: December 11, 2025 (Thursday).
* **Terms and Conditions:**
* The sale is subject to the terms and conditions specified in the 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 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.
* **Bidding Process:**
* Auction Type: Price based using multiple price method.
* Bidding Platform: Reserve Bank of India's Core Banking Solution (E-Kuber system).
* Bidding Timings:
* Competitive: 10:30 am - 11:30 am.
* Non-Competitive: 10:30 am - 11:00 am.
* **Post-Auction:**
* Results will be announced on the day of the auction.
* Payment by successful bidders is due on Thursday, December 11, 2025.
* Physical bids are accepted only in the event of system failure.
**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:**
* Eligible to participate in the auction on a competitive basis.
* **Action Required:**
* Submit bids electronically through the RBI's Core Banking Solution (E-Kuber system) within the specified timings on December 10, 2025.
* Ensure payment by December 11, 2025, if successful.
**Stakeholder: Retail Investors (Individuals)**
* **Impact:**
* Eligible to participate in the auction on a non-competitive basis.
* Allocation restricted to a maximum of 5 percent of the notified amount.
* **Action Required:**
* Submit bids through the Retail Direct portal or electronically through the RBI's Core Banking Solution (E-Kuber system) within the specified timings on December 10, 2025.
* Ensure payment by December 11, 2025, if successful.
Key Entities Referenced
Reserve Bank of India: Announces the auction of Government of India Treasury Bills.
Government of India Treasury Bills: Subject of the auction announced by RBI.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Governs the terms and conditions of the Treasury Bill auction.
Retail Direct portal (https://rbiretaildirect.org.in): Portal for individual investors to participate in the non-competitive scheme for Treasury Bills.
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)