**Executive Summary**
This document is a press release from the Reserve Bank of India (RBI) announcing the auction of Government of India Treasury Bills, including 91-day, 182-day, and 364-day bills. The auction is scheduled for October 23, 2025, with a settlement date of October 24, 2025. Bids must be submitted electronically via the RBI's E-Kuber system.
**Key Points / Main Content**
* **Auction Details:**
* Treasury bills to be auctioned: 91-Day, 182-Day, and 364-Day.
* Total notified amount: ₹19,000 crore.
* Auction date: October 23, 2025 (Thursday).
* Settlement date: October 24, 2025 (Friday).
* **Eligibility and Bidding:**
* Sale subject to terms and conditions specified in General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025.
* Eligible entities: State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks, and entities specified by the Bank.
* Non-competitive bidding is permitted for eligible entities and retail investors, with a 5% allocation cap for retail investors.
* Retail investors can bid through the Retail Direct portal (https://rbiretaildirect.org.in/).
* Auction based on price using multiple price method.
* **Bidding Process and Timings:**
* Bids to be submitted electronically via RBI's Core Banking Solution (E-Kuber system).
* Bidding Timings:
* Competitive: 10:30 am - 11:30 am
* Non-Competitive: 10:30 am - 11:00 am
* **Post-Auction:**
* Auction results will be announced on the day of the auction.
* Payment by successful bidders due on Friday, October 24, 2025.
* Physical bids accepted only in the event of system failure, submitted to the Public Debt Office.
* **Contact Information:**
* Public Debt Office email:
* Public Debt Office Phone: 022-22603456, 022-22603457, 022-22603190.
* Prescribed form available at: (https://rbi.org.in/en/web/rbi/forms)
* Core Banking Operations Team email: , Phone: 022-69870466, 022-69870415.
* IDMD auction team email: , Phone: 022-22702431, 022-22705125.
**Impact Analysis**
**Government of India**
* **Impact:** Securing funds through the issuance of Treasury Bills.
* **Action Required:** Monitor auction results and manage funds accordingly.
**Reserve Bank of India (RBI)**
* **Impact:** Conducting the auction process and managing the government's debt.
* **Action Required:** Ensure smooth auction execution, manage bids, and announce results.
**State Governments, Union Territories with Legislature, Eligible Provident Funds, Designated Foreign Central Banks, and Retail Investors**
* **Impact:** Opportunity to invest in Government of India Treasury Bills.
* **Action Required:** Prepare and submit bids electronically within the specified timeframe. Ensure funds are available for settlement.
**Successful Bidders**
* **Impact:** Obligation to pay for allotted Treasury Bills.
* **Action Required:** Ensure payment is made by the settlement date (October 24, 2025).
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for announcing the auction of Government of India Treasury Bills.
General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025: The governing notification by the Government of India that specifies the terms and conditions for the treasury bill auction.
Treasury Bills: Government of India Treasury Bills being auctioned (91-Day, 182-Day and 364-Day).
Retail Direct portal (https://rbiretaildirect.org.in/): Portal through which individual investors can place bids under the non-competitive scheme.
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
October 17, 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
October 23, 2025 October 24, 2025
2 182-Day 6,000
(Thursday) (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 Thursday, October 23, 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, October 24, 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: 2025-2026/1341 Deputy General Manager
(Communications)