**Policy Summary: Auction of Government of India Treasury Bills**
On September 5, 2025, the Reserve Bank of India (RBI) announced the auction of Government of India Treasury Bills. The auction is scheduled for Wednesday, September 10, 2025, with settlement on Thursday, September 11, 2025. The total notified amount for the auction is ₹21,000 crore, broken down as follows:
* 91-Day Treasury Bills: ₹10,000 crore
* 182-Day Treasury Bills: ₹6,000 crore
* 364-Day Treasury Bills: ₹5,000 crore
The sale will adhere to the terms and conditions outlined in General Notification F.No.42BWM2018 dated March 26, 2025, issued by the Government of India, as amended.
Eligible participants include State Governments, Union Territories with legislatures, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank, all on a non-competitive basis. Allocation for non-competitive bids will be outside the notified amount. Individuals can also participate on a non-competitive basis as retail investors, with allocation restricted to a maximum of 5 percent of the notified amount. Retail investors can place bids through the Retail Direct portal: https://rbiretaildirect.org.in.
The auction will be price-based, using the multiple price method. Bids must be submitted electronically via the RBI's e-Kuber system on September 10, 2025, within the following timeframes:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
Auction results will be announced on the same day. Payment by successful bidders is due on September 11, 2025.
In the event of system failure, physical bids will be accepted and should be submitted to the Public Debt Office via email. The prescribed form can be downloaded from the RBI website: https://rbi.org.in/en/webrbiforms. For physical bids contact 022-22603456, 022-22603457, or 022-22603190.
For technical difficulties, contact the Core Banking Operations Team via email or phone at 022-69870466 or 022-69870415. For other auction-related difficulties, contact the IDMD auction team via email or phone at 022-22702431 or 022-22705125.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction of Government of India Treasury Bills.
Government of India: The issuer of the Treasury Bills being auctioned.
Treasury Bills: Short-term debt instruments issued by the Government of India.
91Day Treasury Bill: A type of Treasury Bill with a maturity period of 91 days.
182Day Treasury Bill: A type of Treasury Bill with a maturity period of 182 days.
364Day Treasury Bill: A type of Treasury Bill with a maturity period of 364 days.
EKuber: The Reserve Bank of India's Core Banking Solution system used for submitting bids.
General Notification F.No.42BWM2018 dated March 26, 2025: A notification issued by the Government of India specifying the terms and conditions for the sale of 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
September 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:
Sr. Notified Amount
Treasury Bill Auction Date Settlement Date
No. (₹ crore)
1 91-Day 10,000
September 10, September 11, 2025
2 182-Day 6,000
2025 (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 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, September 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: 2025-2026/1048 Deputy General Manager
(Communications)