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 with maturities of 91, 182, and 364 days. The auction will take place on January 14, 2026, with settlement on January 16, 2026. Bids must be submitted electronically via the E-Kuber system. **Key Points / Main Content** * **Treasury Bill 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 for all bills: ₹29,000 crore. * **General 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, issued by the 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 can participate on a non-competitive basis. * Retail investors can also participate on a non-competitive basis, with allocation restricted to a maximum of 5 percent of the notified amount, through the Retail Direct portal (https://rbiretaildirect.org.in). * **Bidding Process:** * The auction will be price-based using the multiple price method. * Bids must be submitted electronically on the Reserve Bank of India's Core Banking Solution (E-Kuber system). * **Auction Timings (January 14, 2026):** * Competitive Bids: 10:30 am - 11:30 am * Non-Competitive Bids: 10:30 am - 11:00 am * **Settlement Date & Payment:** * Results will be announced on the day of the auction. * Payment by successful bidders is due on Friday, January 16, 2026. * **System Failure:** * In the event of system failure, physical bids will be accepted if submitted before the auction timing ends. * **Contact Information:** * For technical difficulties, contact the Core Banking Operations Team. * For other auction-related difficulties, contact the IDMD auction team. **Impact Analysis** **Stakeholder: Government of India** * **Impact:** Facilitates raising funds through the auction of Treasury Bills. * **Action Required:** Ensure compliance with the terms and conditions specified in the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025. **Stakeholder: Reserve Bank of India (RBI)** * **Impact:** Manages the auction process and ensures efficient fund allocation. * **Action Required:** Conduct the auction on January 14, 2026, according to the outlined procedures and timings. **Stakeholder: Banks and Financial Institutions** * **Impact:** Opportunity to invest in Government of India Treasury Bills. * **Action Required:** Submit bids electronically through the E-Kuber system within the specified timings. **Stakeholder: Retail Investors** * **Impact:** Opportunity to invest in Government of India Treasury Bills on a non-competitive basis. * **Action Required:** Participate in the auction through the Retail Direct portal, subject to the maximum allocation of 5% of the notified amount. **Stakeholder: State Governments, Union Territories, Eligible Provident Funds, Designated Foreign Central Banks, and Institutions Specified by the Bank** * **Impact:** Can participate on a non-competitive basis. * **Action Required:** Submit bids according to the outlined procedures and timings for non-competitive bids.

Key Entities Referenced