**Executive Summary**
This press release from the Reserve Bank of India, dated December 19, 2025, announces the auction of Government of India Treasury Bills with tenors of 91-day, 182-day, and 364-day. The auction will take place on December 24, 2025, with settlement on December 26, 2025. Bids must be submitted electronically via the E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills: 91-Day, 182-Day, and 364-Day.
* Notified Amount: ₹19,000 crore total (₹7,000 crore for 91-Day, ₹6,000 crore for 182-Day and 364-Day each).
* Auction Date: December 24, 2025 (Wednesday).
* Settlement Date: December 26, 2025 (Friday).
* **Terms and Conditions:**
* The sale is subject to the terms specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended.
* Eligible participants for non-competitive bids include State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and other entities specified by the Bank.
* Individuals can participate on a non-competitive basis as retail investors.
* Retail investors' allocation is capped at 5% of the notified amount and can bid through the Retail Direct portal.
* **Bidding Process:**
* Auction Method: Price-based using multiple price method.
* Bids must be submitted electronically via the E-Kuber system.
* Bidding Timings (December 24, 2025):
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* Results will be announced on the day of the auction.
* **Payment and Physical Bids:**
* Successful bidders must make payments by December 26, 2025.
* Physical bids are only accepted in the event of system failure and must be submitted to the Public Debt Office before the auction timing ends, in the prescribed form.
* **Contact Information:**
* Core Banking Operations Team (technical difficulties): email; Phone: 022-69870466, 022-69870415.
* IDMD auction team (auction-related difficulties): email; Phone: 022-22702431, 022-22705125.
**Impact Analysis**
**Stakeholder**: Government of India
**Impact**: Obtains funding through the auction of treasury bills.
**Action Required**: None specified.
**Stakeholder**: State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, individuals, and other entities specified by the Bank.
**Impact**: Opportunity to invest in Government of India Treasury Bills.
**Action Required**: Submit bids electronically through the E-Kuber system (or physically, if applicable) within the specified timings and according to the stated terms.
**Stakeholder**: Successful Bidders
**Impact**: Opportunity to acquire Government of India Treasury Bills.
**Action Required**: Pay the required amount by the settlement date, December 26, 2025.
Key Entities Referenced
Reserve Bank of India: Central bank announcing the auction of Government of India Treasury Bills.
Government of India Treasury Bills: Subject of the auction announced by the Reserve Bank of India.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Notification specifying the terms and conditions for the sale of Treasury Bills.
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
December 19, 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
December 24, 2025 December 26, 2025
2 182-Day 6,000
(Wednesday) (Friday)
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, December 24, 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 Friday, December 26, 2025.
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, 022-2
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: 2025-2026/1741 Deputy General Manager
(Communications)