RBI Rolls Out Massive Treasury Bill Auction: Know How to Bid in the 91, 182, and 364-Day Tranches
The Reserve Bank of India (RBI) has announced a major auction targeting short-term government securities. The auction includes 91-Day, 182-Day, and 364-Day Treasury Bills (T-Bills), offering participants an opportunity to invest in low-risk sovereign debt. This scheduled sale aims to manage liquidity and ensure smooth functioning of the money market.Auction Overview and Notified Amounts
The RBI has designated a total notional amount of ₹24,000 crore for the upcoming T-Bill auction. The offering spans three distinct tenures: 91-Day, 182-Day, and 364-Day bills.The 91-Day Treasury Bills carry a notified amount of ₹12,000 crore. Similarly, the 182-Day tranche is allotted at ₹6,000 crore, with the 364-Day bill also carrying a notional amount of ₹6,000 crore.
The auction is scheduled for Wednesday, June 17, 2026. Successful bidders will be required to make payments on Thursday, June 18, 2026. These T-Bills are crucial instruments for short-term debt management and liquidity cycles within the financial system.
Bidding Mechanics and Participant Eligibility
The auction will utilize a Price based using multiple price method. Participants can engage through competitive or non-competitive bidding methods. The sale adheres to the terms set forth in General Notification F.No.4(2)-B(W&M)/2018, issued by the Government of India.State Governments and Union Territories with legislative powers are eligible participants for non-competitive bids. Likewise, designated Foreign Central Banks and other specified institutions can participate on a non-competitive basis outside the notified amounts.
Retail investors are also invited to participate in this sovereign debt offering. For individual retail investors, the allocation limit through the non-competitive scheme is restricted to a maximum of 5 percent of the notified amount. Retail investors must utilize the Retail Direct portal for submissions.
Auction Schedule and Submission Timings
The bidding process will be conducted electronically via the Reserve Bank of India's Core Banking Solution (E-Kuber system). Participants must adhere strictly to the specified timing windows for their respective bid categories.Competitive bids are scheduled between 10:30 am and 11:30 am on June 17, 2026. The non-competitive bidding window is set slightly shorter, running from 10:30 am to 11:00 am. Results of the auction will be announced immediately on the day of the sale.
Contingency Plans for Bidding Process
The RBI has outlined specific procedures in case of system failure or technical difficulties during the electronic process. Physical bids are a contingency measure and would only be accepted if the online systems fail.Physical submissions must be sent to the Public Debt Office before the auction timing ends, using the prescribed form which is available on the RBI website. For those experiencing technical difficulties with the Core Banking Operations Team, dedicated contact numbers have been provided for assistance.
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