The Reserve Bank of India has released the Treasury Bills auction calendar for the quarter ending September 2026. In consultation with the Government of India, the RBI will auction T-Bills weekly from July through September 2026. Each auction will raise a total of ₹24,000 crore across three tenors.
Key Details of the Treasury Bills Auction Schedule
The RBI will conduct 14 weekly auctions between July 1 and September 30, 2026. Each auction offers three Treasury Bill tenors: 91-day, 182-day, and 364-day bills. The notified amounts per auction are ₹9,000 crore for 91-day bills, ₹8,000 crore for 182-day bills, and ₹7,000 crore for 364-day bills.
Over the full quarter, the total issuance will reach ₹3,36,000 crore. Therefore, the 91-day T-Bills alone will account for ₹1,26,000 crore. Additionally, 182-day and 364-day bills will collectively contribute ₹2,10,000 crore to government borrowings.
Auctions will take place every Tuesday, with issuance on the following day. However, the August 27 auction is an exception — it falls on a Thursday, with issue on August 28. Meanwhile, the final September 30 auction will see issuance on October 1, 2026.
What This Means for Investors and Market Participants
Treasury Bills are short-term government securities that banks, mutual funds, and institutional investors widely use. As a result, this calendar helps market participants plan their liquidity and investment strategies well in advance. The predictable weekly schedule also supports smoother government cash management.
However, the RBI retains flexibility to modify amounts or timing if market conditions change. For example, intervening public holidays could shift auction dates. Any such changes will be communicated through official RBI press releases, so participants should monitor updates closely.
Additionally, all auctions remain subject to the terms of the Government of India’s General Notification No. F.No.4(2)-B(W&M)/2018, dated March 26, 2025, as amended. Therefore, bidders must ensure they meet all applicable eligibility and procedural requirements before participating in the Treasury Bills auction.
For the full official calendar and further details, visit the RBI press release.
Source: RBI Press Releases
