Reserve Bank Of India Announces Treasury Bills Auction

Category RBI News Updates
Published 13 May 2023

The Reserve Bank of India (RBI) has released a press statement regarding the upcoming auction of Government of India Treasury Bills. The auction details for 91 days, 182 days, and 364 days Treasury Bills have been provided, along with important information for participants.

The auction will be price-based using the multiple price method, and bids should be submitted electronically through RBI's Core Banking Solution (E-Kuber) system. Retail investors can also participate on a non-competitive basis, with certain restrictions. The results of the auction will be announced on the auction day, and payment by successful bidders must be made on the following day.

Treasury Bills Auction Details:

91 Days Treasury Bill:
  - Notified Amount: ₹12,000 Crore
  - Auction Date: May 17, 2023 (Wednesday)
  - Settlement Date: May 18, 2023 (Thursday)
  
182 Days Treasury Bill:
  - Notified Amount: ₹12,000 Crore
  
364 Days Treasury Bill:
  - Notified Amount: ₹8,000 Crore
  
Total Notified Amount: ₹32,000 Crore

Participation and Allocation

  • State Governments, Union Territories with the legislature, eligible Provident Funds in India, designated Foreign Central Banks and other institutions specified by the Bank can participate on a non-competitive basis.
  • Retail investors can also participate on a non-competitive basis, with a maximum allocation of 5 percent of the notified amount.
  • Individual investors can place bids as per the non-competitive scheme through the Retail Direct portal.

Auction Procedure and Timings:

  • The auction will be price-based using the multiple-price method.
  • Bids should be submitted electronically on the RBI's Core Banking Solution (E-Kuber) system.
  • Timings for bid submission:
      - Competitive bids: 10:30 am - 11:30 am
      - Non-Competitive bids: 10:30 am - 11:00 am
     

Payment and Contact Information:

  • Payment by successful bidders must be made on May 18, 2023.
  • In case of system failure, physical bids can be submitted to the Public Debt Office.
  • Contact information:
      - Public Debt Office: Email: pdomumbai@rbi.org.in ; Phone no: 022-22632527, 022-22701299
      - Core Banking Operations Team: Email; cbot@rbi.org.in, Phone no: 022-27595666, 022-27595415, 022-27523516
      - IDMD Auction Team: Email; auctionidmd@rbi.org.in Phone no: 022-22702431, 022-22705125

For more information and updates, please visit the official Reserve Bank of India website.

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