T-bill yields steady in latest auction; 91-day cut-off at 5.50%

The Reserve Bank of India’s Treasury bill auction on Wednesday, 10 September 2025, saw robust demand across all maturities with total bids far exceeding notified amounts. For the 91-day T-bill, against a notified Rs 10,000 crore, the RBI received bids worth Rs 27,611.1 crore. The cut-off yield was set at 5.505% with Rs 9,974.78 crore accepted. The weighted average yield stood slightly lower at 5.4935%. In the 182-day segment, the notified amount was Rs 6,000 crore, drawing bids of Rs 14,244.02 crore. The cut-off yield was fixed at 5.6174% and Rs 5,988.62 crore was allotted, at a weighted average of 5.6068%. The 364-day paper saw bids of Rs 13,659.75 crore for a notified Rs 5,000 crore. The cut-off yield stood at 5.6689% with Rs 4,980.37 crore accepted, while the weighted average yield was slightly lower at 5.6469%. Non-competitive bids were fully allotted, with Rs 13,019.22 crore accepted in the 91-day tenor, Rs 1,011.38 crore in the 182-day, and Rs 1,481.34 crore in the 364-day maturity. The results indicate continued strong demand for short-term government securities even as yields held broadly steady across maturities.