The Reserve Bank of India’s Treasury Bills auction held on 28 January 2026 drew robust investor demand across all maturities, with bids significantly exceeding the notified amounts, even as yields edged higher.
For the 91-day Treasury Bill, the RBI had notified Rs 9,000 crore, while competitive bids worth Rs 23,280.46 crore were received. The cut-off price was set at 98.6474, implying a yield of 5.4997%. Competitive bids accepted stood at Rs 8,987.49 crore, with partial allotment applied to two bids. The weighted average yield came in at 5.4881%.
In the 182-day segment, bids totalled Rs 35,406.78 crore against a notified amount of Rs 12,000 crore. The cut-off price was fixed at 97.2461, translating into a yield of 5.6793%. The RBI accepted Rs 11,991.54 crore through competitive bids, with partial allotment in one bid. The weighted average yield stood at 5.6715%.
Demand was also strong for the 364-day Treasury Bill, with competitive bids amounting to Rs 24,003 crore against the notified Rs 8,000 crore. The cut-off price was set at 94.5865, corresponding to a yield of 5.7391%. Competitive bids accepted totalled Rs 7,990.71 crore, with partial allotment applied to one bid. The weighted average yield for the tenor was 5.7248%.
Non-competitive bids were fully accepted across all maturities. The RBI accepted Rs 8,012.51 crore in the 91-day bill, Rs 1,008.46 crore in the 182-day bill, and Rs 1,009.29 crore in the 364-day bill.