The Reserve Bank of India has released the treasury bill auction calendar for the quarter ending December 2026. The RBI announced this schedule in consultation with the Government of India. A total of ₹2,99,000 crore worth of treasury bills will be auctioned across 13 weekly auctions.
Treasury Bill Auction Schedule: Key Details
Auctions will run weekly from October 7 to December 30, 2026. Each auction will issue treasury bills the following day. For example, the October 7 auction will settle on October 8, 2026. Every weekly auction carries a total notified amount of ₹23,000 crore.
Each auction offers three tenors. The 91-day and 182-day bills are set at ₹8,000 crore each per week. Additionally, the 364-day bills are notified at ₹7,000 crore weekly. Over the full quarter, this adds up to ₹1,04,000 crore for both the 91-day and 182-day tenors, and ₹91,000 crore for the 364-day tenor.
What This Means for Investors and the Market
Treasury bills are short-term government securities. Therefore, they are popular among banks, mutual funds, and institutional investors seeking low-risk instruments. This treasury bill auction calendar gives market participants early visibility to plan their investment strategies effectively.
However, the RBI retains flexibility to modify auction amounts or timings. Market conditions, government requirements, or intervening holidays could trigger changes. As a result, the RBI will communicate any revisions through official press releases, ensuring market participants receive adequate notice.
Meanwhile, all auctions will follow the terms set in the Government of India’s General Notification No. F.No.4(2)-B(W&M)/2018 dated March 26, 2025, as amended. Investors should review these conditions before participating in any auction.
Why the Treasury Bill Auction Calendar Matters
The quarterly calendar supports government borrowing management. It also helps maintain orderly liquidity conditions in India’s money markets. Additionally, predictable auction schedules build investor confidence and encourage wider market participation.
The total planned issuance of ₹2,99,000 crore reflects the government’s short-term funding needs for Q3 FY2026-27. Analysts will closely watch cut-off yields at each auction for signals about short-term interest rate trends.
Source: RBI Press Releases
