Auction of 91-Day, 182-Day and 364-Day Treasury Bills

**Executive Summary** The Reserve Bank of India (RBI) has announced the auction of Government of India Treasury Bills, including 91-day, 182-day, and 364-day bills. The auction will be price based and conducted on Wednesday, November 12, 2025, with settlement scheduled for Thursday, November 13, 2025. Bids must be submitted electronically through the E-Kuber system. **Key Points / Main Content** * **Auction Details:** * The auction includes 91-day, 182-day, and 364-day Treasury Bills. * The notified amounts are ₹7,000 crore, ₹6,000 crore, and ₹6,000 crore, respectively, totaling ₹19,000 crore. * The auction date is November 12, 2025 (Wednesday), and the settlement date is November 13, 2025 (Thursday). * **Eligibility & Participation:** * 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, as amended. * State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank can participate on a non-competitive basis. * Individuals can also participate on a non-competitive basis as retail investors, with a maximum allocation of 5% of the notified amount, accessible through the Retail Direct portal. * **Bidding Process:** * The auction will be price-based using a multiple price method. * Bids must be submitted electronically on the Reserve Bank of India's E-Kuber system on November 12, 2025. * Competitive bids: 10:30 am - 11:30 am * Non-Competitive bids: 10:30 am - 11:00 am * **Post-Auction:** * Results will be announced on the day of the auction. * Successful bidders must make payments on November 13, 2025. * In the event of system failure, physical bids will be accepted if submitted before the auction timing ends in the prescribed form to the Public Debt Office. * **Contact Information:** * For technical difficulties, contact the Core Banking Operations Team (email; Phone no: 022-69870466, 022-69870415). * For auction-related difficulties, contact the IDMD auction team (email; Phone no: 022-22702431, 022-22705125). **Impact Analysis** **Stakeholder: Reserve Bank of India** * **Impact**: Responsible for conducting and managing the auction process for Government of India Treasury Bills. * **Action Required**: Ensure the smooth execution of the auction, address technical issues, and communicate results to participants. **Stakeholder: Bidders (including banks, institutions, individuals)** * **Impact**: Opportunity to invest in Government of India Treasury Bills. Successful bidders will be required to make payments. * **Action Required**: Prepare and submit bids electronically through the E-Kuber system within the specified timeframes. Arrange for payment if the bid is successful. **Stakeholder: State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks** * **Impact**: Opportunity to participate on a non-competitive basis. * **Action Required**: Prepare and submit bids electronically through the E-Kuber system within the specified timeframes. Arrange for payment if the bid is successful. **Stakeholder: Retail Investors** * **Impact**: Opportunity to participate on a non-competitive basis as retail investors, with a maximum allocation of 5% of the notified amount. * **Action Required**: Prepare and submit bids through the Retail Direct portal (https://rbiretaildirect.org.in) within the specified timeframes. Arrange for payment if the bid is successful.

Key Entities Referenced