Reserve Bank of India Announces Auction of Treasury Bills Worth 24,000 Crore for April 22
Why it matters
Treasury Bills (T-Bills) are vital money market instruments used by the Government of India to manage short-term liquidity mismatches. This specific auction is conducted under the General Notification issued by the Ministry of Finance on March 26, 2025. By issuing T-Bills across three distinct tenors, the Reserve Bank of India (RBI) provides a yield curve for short-term risk-free rates in the economy.
| T-Bill Tenor | Notified Amount (₹ Crore) | Auction Date |
|---|---|---|
| 91-Day | 12,000 | April 22, 2026 |
| 182-Day | 6,000 | April 22, 2026 |
| 364-Day | 6,000 | April 22, 2026 |
For investors, particularly retail participants, the 'Scheme for Non-competitive Bidding Facility' allows for allocation of up to 5% of the notified amount. This promotes financial inclusion by allowing individuals to bid through the Retail Direct portal without competing with institutional players on price. The settlement for these bills is scheduled for April 23, 2026, ensuring rapid capital deployment for the sovereign.
Glossary
Term: E-Kuber. The Core Banking Solution (CBS) platform of the Reserve Bank of India that facilitates various banking and auction operations.
Term: Multiple Price Method. An auction format where successful bidders pay the actual price they bid, rather than a single uniform price.