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

**Executive Summary** The Reserve Bank of India (RBI) announces the auction of Government of India Treasury Bills, including 91-day, 182-day, and 364-day bills, with a total notified amount of ₹19,000 crore. The auction will be conducted on November 12, 2025, with settlement on November 13, 2025. Bids must be submitted electronically via the RBI's E-Kuber system. **Key Points / Main Content** * **Auction Details:** * Auction Date: November 12, 2025 (Wednesday) * Settlement Date: November 13, 2025 (Thursday) * Auction Type: Price based using multiple price method. * **Treasury Bills and Notified Amounts:** * 91-Day: ₹7,000 crore * 182-Day: ₹6,000 crore * 364-Day: ₹6,000 crore * Total: ₹19,000 crore * **Bidding Information:** * 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 * Results will be announced on the auction day. * Payment by successful bidders is due on November 13, 2025. * **Eligibility and Non-Competitive Bidding:** * State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and persons/institutions specified by the Bank can participate on a non-competitive basis. * Allocation for non-competitive bids is outside the notified amount. * Individuals (retail investors) can participate on a non-competitive basis, with a maximum allocation of 5% of the notified amount, accessible via the Retail Direct portal (https://rbiretaildirect.org.in). * **Terms and Conditions:** * 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. * **Physical Bids:** * Physical bids are only accepted in the event of system failure, and must be submitted in the prescribed form before the auction timing ends. * **Contact Information:** * Public Debt Office email; Phone no: 022-22603456, 022-22603457,022-22603190 * Core Banking Operations Team email; Phone no: 022-69870466, 022-69870415 (for technical difficulties) * IDMD auction team email; Phone no: 022-22702431, 022-22705125 (for auction-related difficulties) **Impact Analysis** **RBI** **Impact** Responsible for managing the auction process and ensuring compliance with regulations. **Action Required** Oversee the auction on November 12, 2025, announce results, and facilitate settlement on November 13, 2025. **Government of India** **Impact** Benefits from the funds raised through the auction of Treasury Bills. **Action Required** Utilize the funds generated by the Treasury Bills. **Banks and Financial Institutions** **Impact** Have the opportunity to invest in Government of India Treasury Bills and manage their liquidity. **Action Required** Submit bids through the E-Kuber system within the specified timings, and make payments if their bids are successful. **Retail Investors** **Impact** Have the opportunity to invest in Government of India Treasury Bills on a non-competitive basis. **Action Required** If participating, submit bids through the Retail Direct portal (https://rbiretaildirect.org.in) by the stated deadline. **State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and persons/institutions specified by the Bank** **Impact** Have the opportunity to invest in Government of India Treasury Bills on a non-competitive basis. **Action Required** If participating, submit bids through the E-Kuber system within the specified timings, and make payments if their bids are successful.

Key Entities Referenced