RBI to drain ₹23,000 crore via T-bills as retail investors get 5% slice
The Reserve Bank of India will sell ₹23,000 crore of government Treasury bills across three tenors on Wednesday, November 4, with settlement the following day, the central bank said in its auction notice.
The sale splits into ₹8,000 crore of 91-day bills, ₹8,000 crore of 182-day bills and ₹7,000 crore of 364-day bills. The auction will be price based, using the multiple price method, with competitive bids taken between 10:30 and 11:30 am and non-competitive bids closing half an hour earlier on the RBI's E-Kuber core banking system.
Retail investors can bid non-competitively through the RBI's Retail Direct portal, but their allocation is capped at 5% of the notified amount. State governments, union territories with legislatures, eligible provident funds, designated foreign central banks and other institutions named by the RBI may also participate on a non-competitive basis, with that allocation falling outside the notified amount.
Results are due the same day, and successful bidders must pay on Thursday, November 5. The sale is governed by the government's general notification of March 26, 2025, as amended. Physical bids will be accepted only if the system fails, and must reach the Public Debt Office before the auction window closes.
