Description
RBI to auction three Treasury Bills (91-day, 182-day, and 364-day) worth Rs. 19,000 crores on November 12, 2025 through BSE's non-competitive bidding facility.
Summary
BSE has announced the availability of non-competitive bidding facility for participating in the auction of three Treasury Bills scheduled by the Reserve Bank of India (RBI) on November 12, 2025. The auction covers 91-day, 182-day, and 364-day T-Bills with a combined issue size of Rs. 19,000 crores. Trading members can submit bids through BSE’s iBBS web-based NCB-GSec module.
Key Points
- Three Treasury Bills to be auctioned: 91-day (Rs. 7,000 Cr), 182-day (Rs. 6,000 Cr), and 364-day (Rs. 6,000 Cr)
- Total auction size: Rs. 19,000 crores
- Bidding available through BSE’s iBBS NCB-GSec module at https://ibbs.bseindia.com
- Minimum bid lot: 100 units (Rs. 10,000)
- Maximum bid limits: Rs. 350 Cr (91-day), Rs. 300 Cr (182-day and 364-day)
- Bid collection starts November 11, 2025 from 10:00 AM with 24-hour availability
- Settlement on November 13, 2025
Regulatory Changes
No new regulatory changes introduced. This circular continues the existing non-competitive bidding facility framework established by BSE circular no. 20180423-42 dated April 26, 2018.
Compliance Requirements
For Trading Members:
- Submit bids through NCB-GSec module by November 12, 2025 at 8:00 AM
- Ensure compliance with minimum lot size of 100 units (Rs. 10,000)
- Adhere to maximum bid limits per security type
- Complete obligation and pay-in requirements as per settlement schedule
For Direct Investors:
- Submit bids by November 11, 2025 at 5:00 PM
- Meet minimum investment of Rs. 10,000 per security
Important Dates
| Event | Date/Time |
|---|---|
| Bid Collection Start (All) | November 11, 2025 from 10:00 AM onwards |
| Bid Collection End (Direct Investors) | November 11, 2025 at 5:00 PM |
| Bid Collection End (Trading Members) | November 12, 2025 at 8:00 AM |
| Auction Date | November 12, 2025 |
| Settlement Date | November 13, 2025 |
Impact Assessment
Market Impact: Provides short-term investment opportunities in government securities with varying maturity periods (3 months to 1 year). The Rs. 19,000 crore auction size represents significant liquidity provision by the Government of India.
Operational Impact: Trading members and direct investors can participate in government securities auctions through the streamlined non-competitive bidding process, reducing complexity compared to competitive auctions. The 24-hour bidding window for members provides operational flexibility.
Investor Impact: Retail and institutional investors gain access to risk-free government securities with clear pricing determined by the RBI auction process. Three different maturity options allow investors to match their liquidity needs.
Impact Justification
Routine government securities auction providing investment opportunity for debt market participants with clear operational procedures and timelines.