**Policy Summary:**
The Reserve Bank of India (RBI) announces the auction of Government of India Treasury Bills on September 17, 2025. The total notified amount for the auction is ₹21,000 crore, comprising ₹10,000 crore for 91-Day Treasury Bills, ₹6,000 crore for 182-Day Treasury Bills, and ₹5,000 crore for 364-Day Treasury Bills. Settlement will occur on September 18, 2025. The auction will be price-based, using a multiple price method.
Eligible participants include State Governments, Union Territories with legislatures, eligible Provident Funds in India, designated Foreign Central Banks, and other institutions specified by the Bank. Non-competitive bids are allowed from these participants, with allocations outside the notified amount. Individuals can participate on a non-competitive basis as retail investors, with allocations restricted to a maximum of 5% of the notified amount. Retail investors can place bids through the Retail Direct portal (https:rbiretaildirect.org.in).
Competitive bids must be submitted electronically on the RBI's e-Kuber system between 10:30 am and 11:30 am on September 17, 2025. Non-competitive bids must be submitted between 10:30 am and 11:00 am on the same day. Results will be announced on the auction day.
In the event of system failure, physical bids will be accepted and should be submitted to the Public Debt Office via email or phone (022-22603456, 022-22603457, 022-22603190) before the auction timing ends, using the prescribed form available on the RBI website (https:rbi.org.inenwebrbiforms). For technical difficulties, contact the Core Banking Operations Team (email; phone: 022-69870466, 022-69870415). For other auction-related difficulties, contact the IDMD auction team (email; phone: 022-22702431, 022-22705125). The sale will be subject to the terms and conditions specified in the General Notification F.No.42BWM2018 dated March 26, 2025, issued by the Government of India, as amended from time to time.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction of Treasury Bills.
91Day Treasury Bills: A short-term Government of India Treasury Bill with a maturity of 91 days.
182Day Treasury Bills: A short-term Government of India Treasury Bill with a maturity of 182 days.
364Day Treasury Bills: A short-term Government of India Treasury Bill with a maturity of 364 days.
Government of India: The issuer of the Treasury Bills being auctioned.
General Notification F.No.42BWM2018 dated March 26, 2025: A notification specifying the terms and conditions for the sale of Treasury Bills.
Retail Direct portal: An online platform (https:rbiretaildirect.org.in) for retail investors to participate in the auction of government securities.
EKuber: Reserve Bank of India's Core Banking Solution system used for submitting bids in electronic format.
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
September 12, 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 10,000
September 17, 2025 September 18, 2025
2 182-Day 6,000
(Wednesday) (Thursday)
3 364-Day 5,000
Total 21,000
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, September 17, 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, September 18, 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: 2025-2026/1093 Deputy General Manager
(Communications)