**Executive Summary**
This Reserve Bank of India (RBI) press release 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 October 15, 2025, with settlement on October 16, 2025. Bids must be submitted electronically through the E-Kuber system on the auction date.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills of 91-day (₹7,000 crore), 182-day (₹6,000 crore), and 364-day (₹6,000 crore) will be auctioned, totaling ₹19,000 crore.
* The auction date is October 15, 2025 (Wednesday).
* The settlement date is October 16, 2025 (Thursday).
* **Eligibility and Allocation:**
* The sale is subject to the terms and conditions of General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended.
* State Governments, Union Territories, eligible Provident Funds, Foreign Central Banks, and other specified institutions/persons can participate on a non-competitive basis.
* Retail investors can participate on a non-competitive basis with a maximum allocation of 5% of the notified amount via the Retail Direct portal.
* **Bidding Process:**
* The auction is price-based, using a multiple price method.
* Bids should be submitted electronically via RBI's E-Kuber system on October 15, 2025.
* Competitive bids: 10:30 am - 11:30 am
* Non-Competitive bids: 10:30 am - 11:00 am
* Auction results will be announced on the day of the auction.
* Payment by successful bidders is due on October 16, 2025.
* **Technical Issues:**
* In the event of system failure, physical bids will be accepted, submitted before the auction ends.
* For technical difficulties, contact the Core Banking Operations Team via email or phone.
* For other auction-related difficulties, contact the IDMD auction team via email or phone.
**Impact Analysis**
**Government of India**
*Impact*
The Government raises funds through the auction of treasury bills.
*Action Required*
None explicitly stated.
**RBI**
*Impact*
RBI manages the auction and ensures its smooth operation.
*Action Required*
Execute the auction process as described.
**State Governments, Union Territories, Eligible Provident Funds, Foreign Central Banks, and Other Specified Institutions/Persons**
*Impact*
These entities have the opportunity to invest in Government of India Treasury Bills.
*Action Required*
Submit bids electronically through the E-Kuber system by the specified deadlines.
**Retail Investors**
*Impact*
Individual investors can invest in Treasury Bills through the Retail Direct portal.
*Action Required*
Submit bids through the Retail Direct portal by the specified deadlines.
**Successful Bidders**
*Impact*
Obligation to pay for allotted Treasury Bills.
*Action Required*
Make payment by the settlement date, October 16, 2025.
Key Entities Referenced
Government of India Treasury Bills: Auction of Government of India Treasury Bills by the Reserve Bank of India
Reserve Bank of India: Announces the auction of Government of India Treasury Bills
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Terms and conditions of the sale issued by Government of India
Retail Direct portal (https://rbiretaildirect.org.in): The portal through which individual investors can place bids as per the non-competitive scheme
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
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
October 10, 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
October 15, 2025 October 16, 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, October 15, 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, October 16, 2025.2
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
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: 2025-2026/1293 Deputy General Manager
(Communications)