Changeflow GovPing Banking & Finance 91-Day, 182-Day, 364-Day T-Bill Auction Cut-off...
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91-Day, 182-Day, 364-Day T-Bill Auction Cut-off Results

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Summary

The Reserve Bank of India announced cut-off prices and implicit yields for the 91-day, 182-day, and 364-day Treasury Bill auction conducted on April 15, 2026. Total face value notified and accepted was ₹12,000 Crore for 91-day T-Bills, and ₹6,000 Crore each for 182-day and 364-day T-Bills. Cut-off yields ranged from 5.2097% (91-day) to 5.5923% (364-day).

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What changed

The Reserve Bank of India released auction results for 91-day, 182-day, and 364-day Treasury Bills, with all maturities fully subscribed at the cut-off prices. The 91-day T-Bills were issued at a cut-off price of 98.7178 (YTM: 5.2097%), 182-day at 97.3412 (YTM: 5.4779%), and 364-day at 94.7176 (YTM: 5.5923%). Total accepted value was ₹24,000 Crore across all tenors.

These results are informational for primary dealers, banks, and investors participating in the government securities market. The auction results reflect current market conditions for short-term government debt and are published for transparency purposes. No compliance actions are required by this press release.

What to do next

  1. Monitor RBI T-Bill auction schedules and results

Archived snapshot

Apr 16, 2026

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Press Releases

| () | | | | | | | | | | | | | | | | | | | | | |
| Date : Apr 15, 2026 | | | | | | | | | | | | | | | | | | | | | |
| 91-Day, 182-Day and 364-Day T-Bill Auction Result: Cut-off | | | | | | | | | | | | | | | | | | | | | |
| | \| \| T-Bill \| 91-Day \| 182-Day \| 364-Day \|
\| I. \| Total Face Value Notified \| ₹12,000 Crore \| ₹6,000 Crore \| ₹6,000 Crore \|
\| II. \| Cut-off Price and Implicit Yield at Cut-Off Price \| 98.7178
(YTM: 5.2097%) \| 97.3412
(YTM: 5.4779%) \| 94.7176
(YTM: 5.5923%) \|
\| III. \| Total Face Value Accepted \| ₹12,000 Crore \| ₹6,000 Crore \| ₹6,000 Crore \|
Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2026-2027/85 | | T-Bill | 91-Day | 182-Day | 364-Day | I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) | III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
| | T-Bill | 91-Day | 182-Day | 364-Day | | | | | | | | | | | | | | | | |
| I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | | | | | | | | | | | | | | | | |
| II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) | | | | | | | | | | | | | | | | |
| III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | | | | | | | | | | | | | | | | | | | | T-Bill | 91-Day | 182-Day | 364-Day |
| I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
| II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) |
| III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2026-2027/85 | | T-Bill | 91-Day | 182-Day | 364-Day | I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) | III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
| | | T-Bill | 91-Day | 182-Day | 364-Day |
| I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
| II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) |
| III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore |
Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2026-2027/85 | | T-Bill | 91-Day | 182-Day | 364-Day | I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) | III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | |
| | T-Bill | 91-Day | 182-Day | 364-Day | | | | | | | | | | | | | | | | | |
| I. | Total Face Value Notified | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | | | | | | | | | | | | | | | | | |
| II. | Cut-off Price and Implicit Yield at Cut-Off Price | 98.7178
(YTM: 5.2097%) | 97.3412
(YTM: 5.4779%) | 94.7176
(YTM: 5.5923%) | | | | | | | | | | | | | | | | | |
| III. | Total Face Value Accepted | ₹12,000 Crore | ₹6,000 Crore | ₹6,000 Crore | | | | | | | | | | | | | | | | | |

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Classification

Agency
RBI
Published
April 15th, 2026
Instrument
Notice
Legal weight
Non-binding
Stage
Final
Change scope
Minor
Document ID
Press Release: 2026-2027/85

Who this affects

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Government agencies Investors
Industry sector
9211 Government & Public Administration
Activity scope
Government securities issuance T-Bill auctions
Geographic scope
IN IN

Taxonomy

Primary area
Banking
Operational domain
Finance
Topics
Securities Financial Services

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