RBI set a notified amount of ₹12,000 crore for the 91-day issue in the Treasury Bill auction.

Traders Union
All News
Central Banks News
RBI Treasury Bill Auction 91-day

Highlights

RBI set a notified amount of ₹12,000 crore for the 91-day Treasury Bill, and ₹6,000 crore each for the 182-day and 364-day bills.
The cut-off price for the 91-day, 182-day, and 364-day bills was 98.6959, 97.3072, and 94.4342 respectively, and the yield was 5.2998%, 5.5498%, and 5.9100%.
In the non-competitive segment, ₹13,900 crore was allocated for the 91-day bill, ₹3,100 crore for the 182-day bill, and ₹2,800 crore for the 364-day bill.

This article was translated from the original. Read the original version by our correspondent here.

Auction Results and Yield Levels

According to the press release from the Reserve Bank of India, the notified amount was set at ₹12,000 crore for the 91-day Treasury Bill, and ₹6,000 crore each for the 182-day and 364-day bills. The cut-off price for the 91-day paper was 98.6959 with a yield of 5.2998%, for the 182-day paper the cut-off price was 97.3072 with a yield of 5.5498%, and for the 364-day Treasury Bill, the cut-off price was 94.4342 with a yield of 5.9100%.

In the competitive bidding, the 91-day category received 126 bids amounting to ₹37,244.8 crore, of which 35 bids totaling ₹11,400 crore were accepted. The 182-day category received 93 bids for ₹23,411.25 crore, with 6 bids totaling ₹5,700 crore accepted, while the 364-day category received 117 bids for ₹28,559 crore, with 29 bids totaling ₹5,700 crore accepted.

The percentage of partial allocation stood at 51.6763 for the 91-day segment, 87.5000 for the 182-day, and 12.3810 for the 364-day. The weighted average price and yield were also recorded at 98.6972 and 5.2945%, 97.3074 and 5.5494%, and 94.4383 and 5.9054%, respectively.

Market Demand and Borrowing Signals

There was also sustained demand in the non-competitive segment. For the 91-day Treasury Bill, 8 non-competitive bids totaling ₹13,919.42 crore were received, of which ₹13,900 crore were accepted; for the 182-day, 6 bids totaling ₹3,111.801 crore were received, with ₹3,100 crore accepted; and for the 364-day, 5 bids totaling ₹2,814.311 crore were received, with ₹2,800 crore accepted.

These results indicate that investor interest in short-term government securities is spread across different maturity periods, although the yield on the longer 364-day bill remains relatively higher. The auction data also shows that the RBI balances demand at different maturity points within the set borrowing program.

June dividend record dates for banking shares were the main focus of our previous report, which detailed the final dividend and eligibility dates for Indian Bank, HDFC Bank, Canara Bank, Punjab National Bank, and IndusInd Bank. That article noted that trading activity may increase around record dates and that these announcements indicate banks’ capital positions, profit distribution, and shareholder return strategies.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.