**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 October 29, 2025, with settlement on October 30, 2025. Bids must be submitted electronically through the E-Kuber system during specified timings.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills: 91-Day, 182-Day, and 364-Day.
* Total Notified Amount: ₹19,000 crore (₹7,000 crore for 91-Day, ₹6,000 crore each for 182-Day and 364-Day).
* Auction Date: Wednesday, October 29, 2025.
* Settlement Date: Thursday, October 30, 2025.
* **Eligibility & Participation:**
* Governed by General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and RBI-specified entities can participate on a non-competitive basis.
* Allocation for non-competitive bids is outside the notified amount.
* Retail investors can participate on a non-competitive basis, with allocation restricted to a maximum of 5% of the notified amount.
* **Bidding Process:**
* Auction Type: Price-based using multiple price method.
* Bids Submission: Electronic format via RBI's Core Banking Solution (E-Kuber).
* Bidding Timings:
* Competitive: 10:30 am - 11:30 am.
* Non-Competitive: 10:30 am - 11:00 am.
* Results: Announced on the day of the auction.
* Payment: By successful bidders on Thursday, October 30, 2025.
* **System Failure Contingency:**
* Physical bids are accepted only in the event of system failure.
* Physical bids should be submitted in the prescribed form before the auction timing ends.
**Impact Analysis**
**Stakeholder**: Bidders (including banks, financial institutions, and individuals)
* **Impact**: Potential to acquire Government of India Treasury Bills at the determined auction prices. Successful bidders must make payment by October 30, 2025.
* **Action Required**: Submit bids electronically via the E-Kuber system during the specified timings on October 29, 2025, or submit physical bids in a prescribed format in case of system failure.
**Stakeholder**: Reserve Bank of India (RBI)
* **Impact**: Oversees the auction process and facilitates the sale of Government of India Treasury Bills.
* **Action Required**: Conduct the auction on October 29, 2025, announce the results, and ensure the smooth settlement of transactions on October 30, 2025.
**Stakeholder**: Government of India
* **Impact**: Treasury Bills will be auctioned to raise funds.
* **Action Required**: Ensure that any changes to the auction rules are reflected in updates to the General Notification.
**Stakeholder**: Public Debt Office (PDO) & Core Banking Operations Team
* **Impact**: Responsible for resolving queries related to physical bids and technical issues.
* **Action Required**: Address bidder queries.
Key Entities Referenced
Treasury Bills: Government of India debt instruments being auctioned
Reserve Bank of India: Announces and conducts the auction of Government of India Treasury Bills
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Specifies the terms and conditions for the sale of the Treasury Bills
RBI Retail Direct: Portal through which individual investors can participate in the non-competitive scheme
E-Kuber system: Reserve Bank of India's Core Banking Solution, the electronic format bids should be submitted on
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 24, 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
October 29, 2025 October 30, 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 29, 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 30, 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: 2025-2026/1376 Deputy General Manager
(Communications)