**Executive Summary**
This press release from 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 February 18, 2026, with settlement on February 20, 2026. The total notified amount for the auction is ₹34,000 crore.
**Key Points / Main Content**
* **Auction Details:**
* Treasury Bills to be auctioned: 91-Day, 182-Day, and 364-Day.
* Total notified amount: ₹34,000 crore (₹14,000 crore for 91-Day, ₹12,000 crore for 182-Day and ₹8,000 crore for 364-Day).
* Auction Date: Wednesday, February 18, 2026.
* Settlement Date: Friday, February 20, 2026.
* **Bidding Process:**
* Auction method: Price based using multiple price method.
* Bids must be submitted electronically via the RBI's Core Banking Solution (E-Kuber) on February 18, 2026.
* Bidding Timings:
* Competitive Bids: 10:30 am - 11:30 am
* Non-Competitive Bids: 10:30 am - 11:00 am
* Physical bids are accepted only in the event of a system failure.
* **Eligibility and Allocation:**
* Entities eligible for non-competitive bidding include State Governments, Union Territories with legislature, eligible Provident Funds, designated Foreign Central Banks, and any person or institution specified by the Bank.
* Individuals can participate in the non-competitive scheme as retail investors, with a maximum allocation of 5% of the notified amount.
* Retail investors can also bid through the Retail Direct portal (https://rbiretaildirect.org.in).
* **Terms and Conditions:**
* 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.
* **Results and Payment:**
* Auction results will be announced on the day of the auction.
* Successful bidders must make payment on Friday, February 20, 2026.
**Impact Analysis**
**Stakeholder: State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and any person or institution specified by the Bank**
**Impact:** Can participate in the auction on a non-competitive basis.
**Action Required:** Prepare bids and submit them electronically via the E-Kuber system within the specified timings on February 18, 2026, adhering to the General Notification terms.
**Stakeholder: Retail Investors**
**Impact:** Can participate in the auction on a non-competitive basis with a maximum allocation of 5% of the notified amount or through Retail Direct Portal.
**Action Required:** Prepare bids and submit them electronically via the E-Kuber system or the Retail Direct portal within the specified timings on February 18, 2026.
**Stakeholder: Successful Bidders**
**Impact:** Obligated to make payment for the allotted Treasury Bills.
**Action Required:** Make payment on Friday, February 20, 2026.
**Stakeholder: Bidders experiencing system failure**
**Impact:** Can submit physical bids.
**Action Required:** Submit physical bids to the Public Debt Office 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).
Key Entities Referenced
Reserve Bank of India: Announces the auction of Government of India Treasury Bills and operates the E-Kuber system for bid submission.
Government of India Treasury Bills: The instrument being auctioned with specified tenors (91-day, 182-day, 364-day).
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: Governs the terms and conditions of the Treasury Bill auction.
RBI Retail Direct portal (https://rbiretaildirect.org.in): Portal through which individual investors can participate in the non-competitive scheme.
E-Kuber system: Reserve Bank of India's Core Banking Solution used for submitting bids for the auction.
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
February 13, 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 14,000
February 18, 2026 February 20, 2026
2 182-Day 12,000
(Wednesday) (Friday)
3 364-Day 8,000
Total 34,000
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, February 18, 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 Friday, February 20, 2026.2
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: 2025-2026/2110 Deputy General Manager
(Communications)