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 on January 14, 2026, for 91-Day, 182-Day, and 364-Day Treasury Bills. The settlement date for successful bids is January 16, 2026. Bids must be submitted electronically via the E-Kuber system, with physical bids accepted only in the event of system failure. **Key Points / Main Content** * **Auction Details:** * 91-Day Treasury Bills: Notified amount of ₹9,000 crore. * 182-Day Treasury Bills: Notified amount of ₹12,000 crore. * 364-Day Treasury Bills: Notified amount of ₹8,000 crore. * Total notified amount: ₹29,000 crore. * Auction Date: Wednesday, January 14, 2026. * Settlement Date: Friday, January 16, 2026. * **Eligibility and Participation:** * The sale is subject to the terms and conditions of General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025. * State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and specified entities can participate on a non-competitive basis, outside the notified amount. * Individuals can participate as retail investors on a non-competitive basis, with a maximum allocation of 5% of the notified amount. * Retail investors can bid through the Retail Direct portal. * **Bidding Process:** * Auction Type: Price based using multiple price method. * Bids must be submitted electronically on the Reserve Bank of India's Core Banking Solution (E-Kuber system). * Bidding Timings: * Competitive Bids: 10:30 am - 11:30 am. * Non-Competitive Bids: 10:30 am - 11:00 am. * Physical bids are accepted only in the event of system failure, submitted to the Public Debt Office before the auction timing ends. * **Results and Payment:** * Results will be announced on the day of the auction. * Payment by successful bidders must be made on Friday, January 16, 2026. **Impact Analysis** **Stakeholder: Government of India** * **Impact:** The auction allows the government to raise funds through Treasury Bills. * **Action Required:** The government needs to manage the funds raised and ensure compliance with the General Notification F.No.4(2)-B(W&M)/2018. **Stakeholder: Reserve Bank of India** * **Impact:** The RBI is responsible for conducting the auction and managing the process. * **Action Required:** The RBI must ensure the smooth execution of the auction, process bids, and announce results. **Stakeholder: Banks and Financial Institutions** * **Impact:** Banks and institutions can participate in the auction to invest in Treasury Bills. * **Action Required:** Submit bids through the E-Kuber system within the specified timings and make payments if successful. **Stakeholder: Retail Investors** * **Impact:** Retail investors have an opportunity to invest in Government of India Treasury Bills. * **Action Required:** Submit non-competitive bids through the Retail Direct portal or other eligible channels within the specified timings and ensure funds are available for payment if successful. **Stakeholder: State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks and any person or institution specified by the Bank** * **Impact:** Eligible entities can invest on a non-competitive basis, outside the notified amount. * **Action Required:** Submit non-competitive bids through the E-Kuber system within the specified timings and make payments if successful.

Key Entities Referenced