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

**Executive Summary** The Reserve Bank of India (RBI) announced the auction of Government of India Treasury Bills, including 91-day, 182-day, and 364-day bills. The auction is scheduled for October 01, 2025 (Wednesday), and the settlement date is October 03, 2025 (Friday). Bids must be submitted electronically via the E-Kuber system. **Key Points / Main Content** * **Auction Details:** * Auction Date: October 01, 2025 (Wednesday). * Settlement Date: October 03, 2025 (Friday). * Treasury bills being auctioned: 91-Day, 182-Day, and 364-Day. * Total notified amount for the auction: ₹19,000 crore. * **Bidding Process:** * Auction type: Price-based auction using a multiple price method. * Bids must be submitted electronically via RBI's E-Kuber system. * **Bidding Timings:** * Competitive Bids: 12:30 pm - 01:30 pm. * Non-Competitive Bids: 12:30 pm - 01:00 pm. * Bidding results will be announced on the auction day. * **Eligibility and Allocation:** * The sale is subject to terms specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025. * Eligible participants include State Governments, Union Territories with legislatures, eligible Provident Funds, designated Foreign Central Banks, and any person or institution specified by the Bank. * Allocation for non-competitive bids is outside the notified amount. * Retail investors can participate on a non-competitive basis, with allocation limited to 5% of the notified amount, or via Retail Direct portal (https://rbiretaildirect.org.in). * Payment by successful bidders must be made on October 03, 2025. * **Physical Bids:** * Physical bids are accepted only in the event of system failure, and must be submitted to the Public Debt Office before the auction timing ends. * The physical bid form can be downloaded from the RBI website (https://rbi.org.in/en/web/rbi/forms). * **Contact Information** * For technical difficulties, contact the Core Banking Operations Team (email; Phone no: 022-69870466, 022-69870415). * For auction-related difficulties, contact the IDMD auction team (email; Phone no: 022-22702431, 022-22705125). **Impact Analysis** **Government of India** *Impact:* Treasury Bills are a debt instrument for raising funds. *Action Required:* Monitor the auction results and manage the government's debt accordingly. **RBI** *Impact:* The RBI manages the auction process and ensures its smooth execution. *Action Required:* Administer the auction, oversee the bidding process, and announce the results. **State Governments, Union Territories with Legislatures, Eligible Provident Funds, Designated Foreign Central Banks, other specified entities** *Impact:* Opportunity to invest in Government of India Treasury Bills. *Action Required:* Submit competitive or non-competitive bids within the stipulated timeframe. **Retail Investors** *Impact:* Opportunity to invest in Government of India Treasury Bills on a non-competitive basis, with an allocation of maximum of 5 percent of the notified amount. *Action Required:* Submit bids via Retail Direct portal (https://rbiretaildirect.org.in) on a non-competitive basis. **Successful Bidders** *Impact:* Obligation to pay for the allotted Treasury Bills *Action Required:* Make payment by the settlement date, October 03, 2025.

Key Entities Referenced