**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. The auction is scheduled for December 03, 2025, with settlement on December 04, 2025. Bids must be submitted electronically via the RBI's E-Kuber system, with specific timing windows for competitive and non-competitive bids.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills being auctioned: 91-Day, 182-Day, and 364-Day.
* Notified Amount: Total ₹19,000 crore (₹7,000 crore for 91-Day, ₹6,000 crore each for 182-Day and 364-Day).
* Auction Date: December 03, 2025 (Wednesday).
* Settlement Date: December 04, 2025 (Thursday).
* **Bidding Process:**
* The sale is subject to the terms and conditions in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* Bidding Method: Price based using a multiple price method.
* Bids must be submitted electronically through the RBI's E-Kuber system.
* Bidding Timings:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* **Eligibility and Participation:**
* Eligible participants include State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank.
* Individuals can participate on a non-competitive basis.
* Retail investors can participate on a non-competitive basis, with allocation restricted to a maximum of 5% of the notified amount through the Retail Direct portal.
* **Contingency and Contact:**
* In the event of system failure, physical bids are accepted, to be submitted to the Public Debt Office before the auction timing ends.
* Contact email and phone numbers are provided for technical and auction-related difficulties.
* **Results and Payment:**
* Results will be announced on the day of the auction.
* Payment by successful bidders is due on Thursday, December 04, 2025.
**Impact Analysis**
**Government of India:**
* **Impact:** Raising funds through the issuance of Treasury Bills.
* **Action Required:** Oversee the auction process and manage the funds raised.
**Reserve Bank of India:**
* **Impact:** Conducting the auction and managing the process.
* **Action Required:** Execute the auction as per the guidelines and provide necessary support to participants.
**State Governments, Union Territories with legislature, eligible Provident Funds, Foreign Central Banks, Institutions, and Individuals:**
* **Impact:** Opportunity to invest in Government of India Treasury Bills.
* **Action Required:** Submit bids electronically through the E-Kuber system within the specified timings if interested in participating.
**Retail Investors:**
* **Impact:** Opportunity to invest in Government of India Treasury Bills via a non-competitive scheme.
* **Action Required:** Submit bids through the Retail Direct portal if interested in participating in the non-competitive scheme.
Key Entities Referenced
Reserve Bank of India: The central bank announcing the auction of Government of India Treasury Bills.
Treasury Bills: Government of India Treasury Bills being auctioned (91-Day, 182-Day, and 364-Day).
General Notification F.No.4(2)-B(W&M)/2018: The notification that specifies the terms and conditions for the sale of Treasury Bills.
Retail Direct portal: Portal for individual investors to participate in non-competitive scheme.
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 28, 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
December 03, 2025 December 04, 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, December 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, December 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: 2025-2026/1584 Deputy General Manager
(Communications)