**Executive Summary**
The Reserve Bank of India announces the auction of Government of India Treasury Bills (91-Day, 182-Day, and 364-Day) on January 21, 2026. The auction settlement date is January 22, 2026. Bids must be submitted electronically via the E-Kuber system by the specified timings.
**Key Points / Main Content**
* **Treasury Bill Auction Details:**
* 91-Day Treasury Bill: ₹9,000 crore
* 182-Day Treasury Bill: ₹12,000 crore
* 364-Day Treasury Bill: ₹8,000 crore
* Total Notified Amount: ₹29,000 crore
* **Auction Date and Settlement:**
* Auction Date: January 21, 2026 (Wednesday)
* Settlement Date: January 22, 2026 (Thursday)
* **Eligibility:**
* 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.
* 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.
* Individuals can participate on a non-competitive basis as retail investors.
* **Bidding Process:**
* Auction Type: Price-based using multiple price method.
* Submission: Bids must be submitted electronically on the RBI's E-Kuber system.
* Bidding Timings:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* **Results and Payment:**
* Results will be announced on the day of the auction.
* Payment by successful bidders is due on January 22, 2026.
* **Physical Bids (System Failure):**
* Accepted only in the event of system failure.
* Must be submitted to the Public Debt Office before the auction timing ends in the prescribed form.
* **Retail Investors**
* Allocation will be restricted to a maximum of 5 percent of the notified amount.
* Can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).
**Impact Analysis**
**Eligible Bidders (State Governments, Union Territories, Provident Funds, Foreign Central Banks, etc.)**
* **Impact:** Opportunity to invest in Government of India Treasury Bills.
* **Action Required:** Submit bids electronically via E-Kuber within the specified timings, ensure payment by January 22, 2026, if successful.
**Retail Investors:**
* **Impact:** Opportunity to invest in Treasury Bills on a non-competitive basis.
* **Action Required:** Submit bids either through E-Kuber or the Retail Direct portal within the specified timings.
**Reserve Bank of India (RBI):**
* **Impact:** Responsible for conducting the auction and managing the bidding process.
* **Action Required:** Oversee the auction, announce results, and ensure smooth settlement.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction of Government of India Treasury Bills.
Government of India Treasury Bills: Debt instruments issued by the Government of India being auctioned in this announcement.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The primary notification governing the terms and conditions of the Treasury Bill auction.
Retail Direct portal: A platform where individual investors can place non-competitive bids for 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
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)