**Executive Summary**
The Reserve Bank of India (RBI) announced the auction of Government of India Treasury Bills. The auction includes 91-day, 182-day, and 364-day bills totaling ₹19,000 crore. The auction will take place on November 12, 2025, with settlement on November 13, 2025. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* RBI will auction treasury bills with the following tenors and amounts: 91-day (₹7,000 crore), 182-day (₹6,000 crore), and 364-day (₹6,000 crore).
* Auction Date: November 12, 2025 (Wednesday).
* Settlement Date: November 13, 2025 (Thursday).
* **Eligibility and 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, eligible Provident Funds, designated Foreign Central Banks, and persons/institutions specified by the Bank can participate on a non-competitive basis.
* Individuals, including retail investors, can participate on a non-competitive basis.
* Allocation for retail investors is restricted to a maximum of 5% of the notified amount.
* Individual investors can bid through the Retail Direct portal.
* **Bidding Process:**
* The auction is Price based using a multiple price method.
* Bids must be submitted electronically on the RBI's E-Kuber system.
* Bidding Timings:
* Competitive: 10:30 am - 11:30 am
* Non-Competitive: 10:30 am - 11:00 am
* **Other Information:**
* Auction results will be announced on the day of the auction.
* Successful bidders must make payment on November 13, 2025.
* Physical bids are accepted only in the event of system failure and must be submitted to the Public Debt Office before the auction timing ends.
* RBI website link to download the required form: (https://rbi.org.in/en/web/rbi/forms)
* Contact information provided for technical difficulties (Core Banking Operations Team) and auction-related difficulties (IDMD auction team).
**Impact Analysis**
**Government of India:**
* **Impact:** The Government will receive funds from the sale of Treasury Bills.
* **Action Required:** The Government needs to manage the funds received effectively.
**Reserve Bank of India:**
* **Impact:** Manages the auction process and ensures smooth settlement.
* **Action Required:** Oversee the auction and facilitate the bidding process through the E-Kuber system.
**State Governments, Union Territories, Eligible Provident Funds, Designated Foreign Central Banks, Persons/Institutions Specified by the Bank, Individuals (including Retail Investors):**
* **Impact:** Opportunity to invest in Government Treasury Bills.
* **Action Required:** Submit bids electronically through the E-Kuber system within the specified timelines and make payments if the bid is successful. Individuals can also bid through the Retail Direct portal.
Key Entities Referenced
Treasury Bills: Government of India Treasury Bills (91-Day, 182-Day and 364-Day) being auctioned by the Reserve Bank of India.
Reserve Bank of India: The central bank of India, announcing the auction of Government of India Treasury Bills.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The notification issued by the Government of India that specifies the terms and conditions for the sale of treasury bills.
Retail Direct portal (https://rbiretaildirect.org.in): The portal through which individual investors can place non-competitive bids for treasury bills.
E-Kuber system: The Reserve Bank of India's Core Banking Solution (CBS) used for submitting bids for the auction electronically.
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 07, 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 12, 2025 November 13, 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 12, 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 13, 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. The form2
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: 2025-2026/1465 Deputy General Manager
(Communications)