The Government of India, in consultation with the Reserve Bank of India (RBI), has released the auction calendar for Treasury Bills (T-Bills) for the quarter ending December 2025. The calendar details the auction dates, issue dates, and the notified amounts for 91-day, 182-day, and 364-day T-Bills.
Notified Amounts for Q4 2025
The government has planned weekly auctions, with each session offering:
91-day T-Bills: ₹7,000 crore
182-day T-Bills: ₹6,000 crore
364-day T-Bills: ₹6,000 crore
The total notified amount for the quarter (October–December 2025) is ₹2,47,000 crore, broken down as:
91-day T-Bills: ₹91,000 crore
182-day T-Bills: ₹78,000 crore
364-day T-Bills: ₹78,000 crore
Auctions are scheduled on October 1, 8, 15, 23, 29; November 6, 12, 19, 26; December 3, 10, 17, 24, with corresponding issue dates following the next day.
Flexibility in Auction Calendar
The Government of India and RBI retain the flexibility to modify auction amounts or dates depending on market conditions, liquidity requirements, or intervening holidays, with due notice provided to the market. Any changes will be communicated through official press releases.
Terms and Conditions
All auctions will be conducted in accordance with the General Notification No. F.4(2)-B(W&M)/2018 dated 26 March 2025, as amended from time to time, ensuring transparency and adherence to regulatory guidelines.
This calendar is essential for investors, financial institutions, and market participants, providing clarity on government borrowing plans and short-term debt management strategies.
