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

**Executive Summary** This press release from the Reserve Bank of India, dated January 02, 2026, announces the auction of Government of India Treasury Bills, including 91-day, 182-day and 364-day bills. The auction will be held on January 07, 2026, with settlement on January 08, 2026. Bids must be submitted electronically via the E-Kuber system, and payments from successful bidders are due on January 08, 2026. **Key Points / Main Content** * **Auction Details:** * Treasury bills of 91-day, 182-day and 364-day tenures are to be auctioned. * The notified amount for the auction is ₹29,000 crore, broken down as follows: * 91-Day: ₹9,000 crore * 182-Day: ₹12,000 crore * 364-Day: ₹8,000 crore * The auction date is January 07, 2026 (Wednesday). * The settlement date is January 08, 2026 (Thursday). * **Eligibility & Participation:** * The sale is 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. * Eligible participants include State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank. * Non-competitive bids are allowed for eligible participants and individuals (retail investors), with retail investor allocation restricted to a maximum of 5 percent of the notified amount. * Individual investors can place non-competitive bids through the Retail Direct portal. * **Bidding Process:** * The auction is price based, using a multiple price method. * Bids must be submitted electronically via the Reserve Bank of India's Core Banking Solution (E-Kuber system). * Competitive bids: 10:30 am - 11:30 am * Non-Competitive bids: 10:30 am - 11:00 am * **Other Important Information:** * Auction results will be announced on the day of the auction. * Payment by successful bidders is due on January 08, 2026. * In the event of system failure, physical bids are accepted if submitted to the Public Debt Office (before auction timing ends in the prescribed form). **Impact Analysis** **Government of India:** * **Impact:** Successful auction allows the government to raise funds through treasury bills. * **Action Required:** Ensure terms and conditions specified in the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, are met. **Reserve Bank of India (RBI):** * **Impact:** Responsible for conducting the auction and managing the process. * **Action Required:** Conduct the auction on January 07, 2026, announce the results, and ensure settlement on January 08, 2026. **Eligible Participants (State Governments, Union Territories, Provident Funds, Foreign Central Banks, etc.):** * **Impact:** Opportunity to invest in Government of India Treasury Bills. * **Action Required:** Prepare and submit bids through the E-Kuber system during the specified timings on January 07, 2026, and make payment on January 08, 2026, if successful. **Retail Investors:** * **Impact:** Opportunity to invest in Government of India Treasury Bills through the non-competitive scheme. * **Action Required:** Place bids through the Retail Direct portal or other eligible channels during the specified timings on January 07, 2026, and make payment on January 08, 2026, if successful.

Key Entities Referenced