The Reserve Bank of India on 21 January 2026 conducted its latest Treasury Bills auction, which saw healthy demand across all maturities, even as yields hardened marginally compared with the previous auction.
For the 91-day Treasury Bill, the RBI had notified Rs 9,000 crore, while competitive bids worth Rs 17,439.75 crore were received. The cut-off price was set at 98.6500, translating into a yield of 5.4889%. The central bank accepted Rs 8,980.11 crore of competitive bids, with partial allotment applied to four bids. The weighted average yield stood at 5.4692%.
In the 182-day segment, bids totalled Rs 29,587.50 crore against a notified amount of Rs 12,000 crore. The cut-off price was fixed at 97.2539, implying a yield of 5.6628%. Competitive bids accepted amounted to Rs 11,983.21 crore, with partial allotment in two bids. The weighted average yield came in at 5.6545%.
Demand remained strong for the 364-day Treasury Bill, with bids worth Rs 23,200.12 crore received against the notified Rs 8,000 crore. The cut-off price was set at 94.6035, corresponding to a yield of 5.7200%. The RBI accepted Rs 7,862.30 crore of competitive bids, with partial allotment applied to two bids. The weighted average yield stood at 5.6948%.
Non-competitive bids were fully accepted across all maturities, amounting to Rs 2,519.89 crore in the 91-day bill, Rs 816.80 crore in the 182-day bill, and Rs 137.70 crore in the 364-day bill.