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

**Executive Summary** This press release, dated January 30, 2026, from the Reserve Bank of India (RBI) announces the auction of Government of India Treasury Bills (T-Bills) of 91-day, 182-day and 364-day tenors. The auction will take place on February 04, 2026, with settlement on February 05, 2026. Bids must be submitted electronically via the RBI's E-Kuber system. **Key Points / Main Content** * **Auction Details:** * The total notified amount for the T-Bill auction is ₹29,000 crore. * The auction includes: * 91-Day T-Bills: ₹9,000 crore * 182-Day T-Bills: ₹12,000 crore * 364-Day T-Bills: ₹8,000 crore * Auction Date: February 04, 2026 (Wednesday) * Settlement Date: February 05, 2026 (Thursday) * **Terms and Conditions:** * The sale is subject to the terms outlined in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended. * 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 non-competitive basis * Allocation for non-competitive bids will be outside the notified amount. * Individuals can participate on non-competitive basis, as retail investors. * Retail investors allocation is capped at 5% of the notified amount. * **Bidding Process:** * The auction is price-based using the multiple price method. * Bids must be submitted electronically through RBI's E-Kuber system. * Bidding Timings: * Competitive Bids: 10:30 am - 11:30 am * Non-Competitive Bids: 10:30 am - 11:00 am * **Post-Auction:** * Results will be announced on the day of the auction. * Successful bidders must make payment by February 05, 2026. * Physical bids are only accepted in the event of system failure and must be submitted in the prescribed form to the Public Debt Office before the auction timing ends. The form is available on the RBI website. **Impact Analysis** **Stakeholder: Government of India** * **Impact:** The auction allows the Government to raise funds through the issuance of Treasury Bills. * **Action Required:** Manage the funds raised through the auction in accordance with budgetary needs. **Stakeholder: Banks and Financial Institutions** * **Impact:** Opportunity to invest in Government of India Treasury Bills. * **Action Required:** Submit competitive bids through the E-Kuber system within the specified timeframe if they wish to participate in the auction. **Stakeholder: Retail Investors** * **Impact:** Opportunity to invest in Government of India Treasury Bills. * **Action Required:** Submit non-competitive bids through the E-Kuber system or the Retail Direct portal within the specified timeframe if they wish to participate in the auction. Note the 5% allocation limit. **Stakeholder: Reserve Bank of India** * **Impact:** The central bank is responsible for conducting the auction and managing the process. * **Action Required:** Conduct the auction on February 4, 2026, and announce the results, ensuring smooth operation of the E-Kuber system. Address any technical difficulties reported by participants.

Key Entities Referenced