## Policy Summary: Auction of Government of India Treasury Bills
This press release from the Reserve Bank of India (RBI), dated August 29, 2025, announces the auction of Government of India Treasury Bills. The auction is scheduled for Wednesday, September 03, 2025, with settlement on Thursday, September 04, 2025.
The total notified amount for the auction is ₹21,000 crore, distributed across the following Treasury Bill tenors:
* 91-Day Treasury Bills: ₹10,000 crore
* 182-Day Treasury Bills: ₹6,000 crore
* 364-Day Treasury Bills: ₹5,000 crore
The sale is 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.
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. These entities can participate on a non-competitive basis, with allocations 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. Individual investors can also place bids as per the noncompetitive scheme through the Retail Direct portal https:rbiretaildirect.org.in.
The auction will be price-based using a multiple price method. Bids must be submitted electronically on the RBI's e-Kuber system on September 03, 2025, within the following timeframes:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
Results will be announced on the day of the auction, and payment by successful bidders is due on September 04, 2025.
In the event of system failure, physical bids will be accepted and should be submitted to the Public Debt Office via email or phone before the auction timing ends. Contact details for physical bid submission and form downloads are available on the RBI website (https:rbi.org.inenwebrbiforms).
For technical difficulties, contact the Core Banking Operations Team via email or phone (022-69870466, 022-69870415). For other auction-related difficulties, contact the IDMD auction team via email or phone (022-22702431, 022-22705125).
Key Entities Referenced
Reserve Bank of India: The central bank of India, which is announcing the auction of Treasury Bills.
Government of India: The issuer of the Treasury Bills being auctioned by the Reserve Bank of India.
Treasury Bills: Short-term debt instruments issued by the Government of India, including 91Day, 182Day, and 364Day Treasury Bills, which are the subject of the auction.
Mumbai, Maharashtra: City in India, location of Reserve Bank of India Central Office.
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.
EKuber: The Reserve Bank of India's Core Banking Solution system used for submitting bids in electronic format.
Retail Direct portal: Portal through which individual investors can place bids as per the noncompetitive scheme.
Ajit Prasad: Deputy General Manager Communications at Reserve Bank of India.
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
August 29, 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 03, 2025 September 04, 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 03, 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 04, 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: 2025-2026/1004 Deputy General Manager
(Communications)