Strong demand in T-Bill auction as bids cross Rs 56,000 crore

The Reserve Bank of India (RBI) completed the auction of Treasury Bills (T-bills) on 3 September 2025, raising the full notified amount of Rs 21,000 crore across 91-day, 182-day, and 364-day papers. For the 91-day T-bill, the cut-off yield stood at 5.51% with a cut-off price of 98.6450. The RBI accepted bids worth Rs 9,969.59 crore against the notified amount of Rs 10,000 crore. The weighted average yield came in slightly lower at 5.51%. The 182-day T-bill was sold at a cut-off yield of 5.62% with a cut-off price of 97.2742. Competitive bids accepted amounted to Rs 5,984.38 crore against a notified size of Rs 6,000 crore. The weighted average yield stood at 5.61%. In the 364-day T-bill, the cut-off yield was set at 5.67% with a cut-off price of 94.6482. Accepted bids totaled Rs 4,977.48 crore against the notified Rs 5,000 crore, with the weighted average yield at 5.65%. Demand remained strong with total competitive bids received at over Rs 56,000 crore across maturities, more than double the notified size. Non-competitive bids worth Rs 5,395 crore were fully accepted, comprising Rs 1,530 crore in 91-day bills, Rs 2,616 crore in 182-day bills, and Rs 1,249 crore in 364-day bills.