**Executive Summary**
This document is a press release from the Reserve Bank of India announcing the auction of Government of India Treasury Bills, including 91-Day, 182-Day, and 364-Day bills. The auction is scheduled for November 26, 2025, with settlement on November 27, 2025. Bids must be submitted electronically through the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Auction of 91-Day, 182-Day, and 364-Day Government of India Treasury Bills.
* Total notified amount is ₹19,000 crore.
* Auction Date: November 26, 2025 (Wednesday).
* Settlement Date: November 27, 2025 (Thursday).
* **Bidding Process:**
* The auction will be price-based using a multiple price method.
* Bids must be submitted electronically through the RBI's E-Kuber system.
* Competitive and non-competitive bids accepted.
* **Eligibility and Allocation:**
* State Governments, Union Territories, eligible Provident Funds, Foreign Central Banks, and individuals can participate on a non-competitive basis.
* Retail investors can participate on a non-competitive basis, with allocation limited to a maximum of 5% of the notified amount.
* Retail investors can also place bids as per the non-competitive scheme through the Retail Direct portal.
* **Bidding Timings:**
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* **Results and Payment:**
* Auction results will be announced on the day of the auction.
* Payment by successful bidders must be made on Thursday, November 27, 2025.
* **Contingency:**
* In case of a system failure, physical bids will be accepted if submitted before the end of the auction timing.
**Impact Analysis**
**Government of India**
* **Impact**: Receives funds through the sale of treasury bills.
* **Action Required**: Manage the auction process according to the notification terms.
**Reserve Bank of India**
* **Impact**: Oversees and facilitates the auction process.
* **Action Required**: Manage the E-Kuber system, announce results, and facilitate settlements.
**State Governments, Union Territories, Eligible Provident Funds, Foreign Central Banks, Institutions, and Individuals (including retail investors)**
* **Impact**: Opportunity to invest in Government of India Treasury Bills.
* **Action Required**: Submit bids through the E-Kuber system within the specified timeframe and make payments if successful.
Key Entities Referenced
Treasury Bills: Government of India Treasury Bills auctioned by the Reserve Bank of India
Reserve Bank of India: Central Bank of India, announces the auction of Treasury Bills
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Notification specifying the terms and conditions for the Treasury Bill auction.
Retail Direct: Scheme through the Retail Direct portal allowing individual investors to participate on non-competitive basis.
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
November 21, 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
November 26, 2025 November 27, 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, November 26, 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, November 27, 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: 2025-2026/1548 Deputy General Manager
(Communications)