**Executive Summary**
This press release from the Reserve Bank of India (RBI), dated October 03, 2025, announces the auction of Government of India Treasury Bills with maturities of 91, 182, and 364 days. The auction is scheduled for October 08, 2025, with settlement on October 09, 2025. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Auction of 91-day, 182-day and 364-day Government of India Treasury Bills.
* Auction date: October 08, 2025 (Wednesday).
* Settlement date: October 09, 2025 (Thursday).
* Notified amount: ₹7,000 crore for 91-Day, ₹6,000 crore for 182-Day, ₹6,000 crore for 364-Day. Total ₹19,000 crore.
* **General Conditions:**
* Sale is subject to terms and conditions specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended.
* **Eligibility:**
* State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and persons/institutions specified by RBI can participate on a non-competitive basis.
* Individuals can participate on non-competitive basis as retail investors.
* Retail investor allocation is limited to a maximum of 5% of the notified amount.
* Individual investors can bid through Retail Direct portal.
* **Bidding Process:**
* Auction is price-based, using a multiple price method.
* Bids must be submitted electronically on RBI's E-Kuber system on October 08, 2025.
* Competitive and Non-Competitive bids timings: 10:30 am - 11:30 am and 10:30 am - 11:00 am, respectively.
* **Results and Payment:**
* Results will be announced on the day of the auction.
* Payment by successful bidders must be made on Thursday, October 09, 2025.
* **System Failure:**
* In the event of system failure, physical bids will be accepted (submitted to the Public Debt Office before the auction timing ends, in the prescribed form, downloadable from the RBI website).
**Impact Analysis**
**Stakeholder: Banks and Financial Institutions**
* **Impact:** Opportunity to invest in Government of India Treasury Bills.
* **Action Required:** Participate in the auction through the E-Kuber system on October 08, 2025, within the specified timings. Ensure payment on October 09, 2025, if the bid is successful.
**Stakeholder: State Governments, Union Territories with legislature, Eligible Provident Funds, Designated Foreign Central Banks**
* **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis.
* **Action Required:** Participate in the auction through the E-Kuber system on October 08, 2025, within the specified timings. Ensure payment on October 09, 2025, if the bid is successful.
**Stakeholder: Retail Investors**
* **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis, limited to 5% of the notified amount.
* **Action Required:** Participate in the auction through the Retail Direct portal or the E-Kuber system on October 08, 2025, within the specified timings. Ensure payment on October 09, 2025, if the bid is successful.
**Stakeholder: Reserve Bank of India**
* **Impact:** Managing the government's borrowing program.
* **Action Required:** Conduct the auction, process bids, and announce results.
Key Entities Referenced
Treasury Bills: Government of India Treasury Bills being auctioned by the Reserve Bank of India.
Reserve Bank of India: The central bank responsible for conducting the auction of Treasury Bills.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Governing notification outlining the terms and conditions for the sale of treasury bills.
E-Kuber system: The Reserve Bank of India's Core Banking Solution used for submitting bids.
Retail Direct portal (https://rbiretaildirect.org.in): Portal through which retail investors can participate in non-competitive scheme of auction
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
October 03, 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:
Sr. Notified Amount
Treasury Bill Auction Date Settlement Date
No. (₹ crore)
1 91-Day 7,000
October 08, 2025 October 09, 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, October 08, 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, October 09, 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: 2025-2026/1242 Deputy General Manager
(Communications)