The Reserve Bank of India released the results of the Treasury Bill auction
Under the Indian government borrowing program, the results of the 91-day, 182-day, and 364-day Treasury Bill auctions held on June 24, 2026, have been announced. The total notified amount of ₹24,000 crore across all three categories was fully accepted, indicating strong demand and yields for short-term borrowing.
Highlights
- In the 91-day Treasury Bill auction on June 24, 2026, the cut-off price was 98.7086 and the yield was 5.2476% for a notified amount of ₹12,000 crore.
- For the 182-day and 364-day T-Bills, the cut-off yields were 5.4499% and 5.6387% respectively for a notified amount of ₹6,000 crore each.
- Full acceptance of the notified amount and rising yields in all three T-Bill auctions indicate trends in short-term interest rates and demand for government securities.
This article was translated from the original. Read the original version by our correspondent here.
Results of the T-Bill Auction on June 24
According to the press release from the Reserve Bank of India (RBI), the 91-day, 182-day, and 364-day Treasury Bill auctions were held on June 24, 2026, and each segment was fully allotted as per the notified amount. For the 91-day T-Bill, the cut-off price was 98.7086 for a notified amount of ₹12,000 crore, with an implied yield of 5.2476%.For the 182-day T-Bill, the cut-off price was 97.3544 for a notified amount of ₹6,000 crore, with an implied yield of 5.4499%. In the 364-day T-Bill, the cut-off price was 94.6761 for a notified amount of ₹6,000 crore, and the implied yield was 5.6387%.
Short-Term Borrowing and Market Signals
The total accepted amount in all three auctions being equal to the notified value indicates that the central government's short-term borrowing plan is progressing as scheduled. The sequential increase in yields across different maturities also shows that investors demanded higher returns for longer-maturity Treasury Bills.These results are important indicators for the money market, banks, mutual funds, and other institutional investors, as the cut-off yield of Treasury Bills provides a basis for the direction of short-term interest rates and demand for government securities.
Our earlier report discussed the growth of India's eight core sectors falling to 0.5% in May, with contraction recorded in five out of eight sectors. The report noted that despite declines in coal, crude oil, natural gas, refinery products, and fertilizer production, gains in electricity, cement, and steel kept the overall index positive, giving mixed signals for industrial momentum.
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