What changed

The Reserve Bank of India (RBI) has announced the auction of Government of India Treasury Bills with maturities of 91, 182, and 364 days. The total notified amount for the auction is ₹35,000 crore, with specific amounts allocated to each maturity. The auction will take place on March 25, 2026, and settlement will occur on March 27, 2026. The sale is subject to terms and conditions specified in a general notification dated March 26, 2025. Participation is open to State Governments, eligible Provident Funds, Foreign Central Banks, and individuals on a non-competitive basis, with a restriction of 5% of the notified amount for retail investors.

Participants must submit bids electronically via the RBI's E-Kuber system during specified timings on the auction date. Competitive bids are accepted between 10:30 am and 11:30 am, while non-competitive bids are accepted between 10:30 am and 11:00 am. Payment by successful bidders is due on March 27, 2026. The document also provides contact information for technical assistance and outlines procedures for physical bids in case of system failure. This announcement serves as a notice for an upcoming auction and does not impose new regulatory obligations beyond those established in the referenced general notification.

What to do next

Submit bids via E-Kuber system by March 25, 2026
Make payment by March 27, 2026

Source document (simplified)

Press Releases

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| Date : Mar 20, 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:

\| Sr. No. \| Treasury Bill \| Notified Amount
(₹ crore) \| Auction Date \| Settlement Date \|
\| 1 \| 91-Day \| 15,000 \| March 25, 2026
(Wednesday) \| March 27, 2026
(Friday) \|
\| 2 \| 182-Day \| 12,000 \| \| \|
\| 3 \| 364-Day \| 8,000 \| \| \|
\| \| Total \| 35,000 \| \| \|
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, March 25, 2026, during the below given timings:

Payment by successful bidders will have to be made on Friday, March 27, 2026.

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://www.rbi.org.in/Scripts/BS_ViewForms.aspx). 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
Deputy General Manager
(Communications)

| Sr. No. | Treasury Bill | Notified Amount
(₹ crore) | Auction Date | Settlement Date |
| 1 | 91-Day | 15,000 | March 25, 2026
(Wednesday) | March 27, 2026
(Friday) |
| 2 | 182-Day | 12,000 | | |
| 3 | 364-Day | 8,000 | | |
| | Total | 35,000 | | |
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, March 25, 2026, during the below given timings:

Payment by successful bidders will have to be made on Friday, March 27, 2026.

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://www.rbi.org.in/Scripts/BS_ViewForms.aspx). 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
Deputy General Manager
(Communications)

| Sr. No. | Treasury Bill | Notified Amount
(₹ crore) | Auction Date | Settlement Date |
| 1 | 91-Day | 15,000 | March 25, 2026
(Wednesday) | March 27, 2026
(Friday) |
| 2 | 182-Day | 12,000 | | |
| 3 | 364-Day | 8,000 | | |
| | Total | 35,000 | | |
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, March 25, 2026, during the below given timings:

Payment by successful bidders will have to be made on Friday, March 27, 2026.

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://www.rbi.org.in/Scripts/BS_ViewForms.aspx). 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
Deputy General Manager
(Communications)

Press Release: 2025-2026/2295 | Sr. No. | Treasury Bill | Notified Amount
(₹ crore) | Auction Date | Settlement Date | 1 | 91-Day | 15,000 | March 25, 2026
(Wednesday) | March 27, 2026
(Friday) | 2 | 182-Day | 12,000 | 3 | 364-Day | 8,000 | | Total | 35,000 | | | Category of Bids | Timing | Competitive | 10:30 am - 11:30 am | Non-Competitive | 10:30 am - 11:00 am | |
| Sr. No. | Treasury Bill | Notified Amount
(₹ crore) | Auction Date | Settlement Date | | | | | | | | | | | | | | | | | | | | | | | | |
| 1 | 91-Day | 15,000 | March 25, 2026
(Wednesday) | March 27, 2026
(Friday) | | | | | | | | | | | | | | | | | | | | | | | | |
| 2 | 182-Day | 12,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3 | 364-Day | 8,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Total | 35,000 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Category of Bids | Timing | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Competitive | 10:30 am - 11:30 am | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Non-Competitive | 10:30 am - 11:00 am | | | | | | | | | | | | | | | | | | | | | | | | | | | |