**Executive Summary**
The Reserve Bank of India (RBI) has announced the auction of Government of India Treasury Bills for 91-day, 182-day, and 364-day tenors. The auction will be held on January 21, 2026, with settlement on January 22, 2026. Bids must be submitted electronically through the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills: 91-Day, 182-Day, and 364-Day.
* Total Notified Amount: ₹29,000 crore (₹9,000 crore, ₹12,000 crore, and ₹8,000 crore respectively)
* Auction Date: January 21, 2026 (Wednesday)
* Settlement Date: January 22, 2026 (Thursday)
* **Bidding Process:**
* Auction Type: Price-based using multiple price method.
* Submission: Electronic format via 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 Allocation:**
* Eligible Participants: State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and any person/institution specified by the Bank.
* Non-Competitive Bids: Allowed for eligible participants and retail investors. Allocation for these bids is outside the notified amount.
* Retail Investor Allocation: Restricted to a maximum of 5% of the notified amount, and can be placed via the Retail Direct portal (https://rbiretaildirect.org.in).
* **Payment and Results:**
* Payment Date: January 22, 2026 (Thursday)
* Results: To be announced on the day of the auction.
* **Contingency:**
* Physical Bids: Accepted only in the event of system failure. These must be submitted in prescribed form before the auction timing ends.
* **Governing Notification**
* 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.
**Impact Analysis**
**Eligible Institutions (State Governments, Union Territories, Provident Funds, Foreign Central Banks, Specified Institutions):**
* **Impact:** Opportunity to invest in Government of India Treasury Bills on a competitive or non-competitive basis, thus managing funds and earning returns.
* **Action Required:** Submit bids electronically through the E-Kuber system according to the specified timings.
**Retail Investors:**
* **Impact:** Opportunity to invest in Government of India Treasury Bills on a non-competitive basis through the Retail Direct portal, with a maximum allocation of 5% of the notified amount.
* **Action Required:** Place bids through the Retail Direct portal (https://rbiretaildirect.org.in).
**Successful Bidders:**
* **Impact:** Obligation to make payment on January 22, 2026.
* **Action Required:** Ensure funds are available for settlement on the specified date.
Key Entities Referenced
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The notification issued by the Government of India that specifies the terms and conditions for the auction of Treasury Bills.
Treasury Bills: Government of India Treasury Bills, specifically the 91-Day, 182-Day, and 364-Day bills being auctioned.
Reserve Bank of India: The entity conducting the auction of Government of India Treasury Bills.
Retail Direct portal (https://rbiretaildirect.org.in): A scheme through which Individual investors can place bids as per the 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
January 16, 2026
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 9,000
January 21, 2026 January 22, 2026
2 182-Day 12,000
(Wednesday) (Thursday)
3 364-Day 8,000
Total 29,000
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, January 21, 2026, 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, January 22, 2026.
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.2
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
Deputy General Manager
Press Release: 2025-2026/1938 (Communications)