RBI Unveils Mega T-Bill Auction: 24,000 Crore Worth of Short and Long Duration Fixed Income on the Table

RBI Unveils Mega T-Bill Auction: 24,000 Crore Worth of Short and Long Duration Fixed Income on the Table​

The Reserve Bank of India (RBI) has formally announced the auction of Government of India Treasury Bills. These bills cover short and long durations, offering significant opportunities for institutional and retail investors alike. The total notified amount across all categories stands at ₹24,000 crore, underscoring the central bank's focus on stabilizing the fixed-income market.

Scope of the Treasury Bill Auction​

The auction features three distinct maturities: 91-Day, 182-Day, and 364-Day T-Bills. The 91-Day bill carries a notified amount of ₹12,000 crore. The 182-Day segment has been allocated ₹6,000 crore, while the longest duration, the 364-Day Treasury Bill, is also available at a notified amount of ₹6,000 crore.

Bidding Mechanisms and Investor Eligibility​

The sale process will adhere to specified terms and conditions set forth by the Government of India. Participants include State Governments, Union Territories with legislatures, designated Foreign Central Banks, and eligible Provident Funds in India. Retail investors are also invited to participate on a non-competitive basis through specialized portals.

For retail participants, the allocation for non-competitive bids is strictly capped at a maximum of 5 percent of the total notified amount for each bill. The RBI utilizes a Price based using multiple price method for this auction, ensuring transparency and market integrity.

Auction Schedule and Payment Logistics​

The official bidding process is scheduled for Wednesday, June 10, 2026. Participants must submit their bids electronically via the Reserve Bank of India's Core Banking Solution (E-Kuber system). The timeline segregates two distinct categories of bids.

Non-Competitive bidding will run from 10:30 am to 11:00 am. Competitive Bids are scheduled for a later slot, running between 10:30 am and 11:30 am. Results of the auction are slated for announcement on the same day as the successful bids. Payment by all successful bidders must be completed by Thursday, June 11, 2026.

Contingency Planning for Bidding Process​

While the primary method is electronic bidding through E-Kuber, RBI has outlined detailed contingency plans to ensure smooth execution of the sale. In instances of system failure, physical bids will be accepted. These specific forms must be submitted in person or via designated contact details before the auction timing concludes. Technical difficulties can also be routed through the dedicated Core Banking Operations Team for resolution.