Govt releases Treasury Bill auction calendar for quarter ending Mar 2026

The Indian government, with RBI, released the Treasury Bill auction calendar for Q1 2026. It details weekly auctions for 91, 182, and 364-day bills, with amounts increasing through the quarter, totalling Rs 384,000 crore.

The Government of India, in consultation with the Reserve Bank of India (RBI), released the auction calendar for Treasury Bills for the quarter ending March 2026, outlining the schedule and notified amounts for various short-term Government of India securities.

According to the calendar released by Press Information Bureau, Government of India, auctions will be held weekly across January, February and March 2026, covering 91-day, 182-day and 364-day Treasury Bills. These bills serve as important instruments for sovereign debt management and provide short-term investment avenues for a range of financial market participants, including banks, mutual funds and insurance companies.

Auction Schedule and Notified Amounts

The quarterly schedule begins with the auction on January 7, 2026, with the issue date on January 8, 2026. For this and subsequent weekly auctions on January 14, 21, 28 and February 4, the notified amounts remain consistent at Rs 9,000 crore for 91-day, Rs 12,000 crore for 182-day, and Rs 8,000 crore for 364-day bills, aggregating Rs 29,000 crore in each instance.

Mid-February marks a moderate increase in auction sizes. On February 11, 18 and 25, the notified amount for 91-day bills is raised to Rs 14,000 crore, while amounts for 182-day and 364-day issues remain at Rs 12,000 crore and Rs 8,000 crore, respectively, bringing the total notified amount to Rs 34,000 crore for these dates.

Similarly, notified amounts of Rs 14,000 crore, Rs 12,000 crore and Rs 8,000 crore are scheduled for the March 4, 11 and 18 auctions, each totalling Rs 34,000 crore.

The last auction of the quarter is scheduled for March 25, 2026, with the issue on March 27. For this session, the notified amount for 91-day bills increases further to Rs 15,000 crore while 182-day and 364-day bills remain at RS 12,000 crore and Rs 8,000 crore, respectively, culminating in a notified amount of Rs 35,000 crore.

Total Quarterly Issuance

Overall, the Government has notified total issuance amounts of Rs 144,000 crore for both 91-day and 182-day bills, and Rs 96,000 crore for 364-day bills, resulting in an aggregate notified amount of Rs 384,000 crore for the quarter.

Flexibility in Schedule

In its press release, the Ministry of Finance said that the Government, in consultation with the RBI, retains the flexibility to modify the amounts and timing of auctions depending on market conditions, funding requirements and other relevant factors, after giving due notice to the market.

The release did not specify any changes to auction norms or procedures beyond the calendar itself. (ANI)

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