Description

RBI to conduct auction of three Treasury Bills (91-day, 182-day, and 364-day) on November 12, 2025 with non-competitive bidding facility available through BSE's NCB-GSec module.

Summary

BSE has announced the availability of non-competitive bidding facility for the auction of three Treasury Bills to be conducted by RBI on November 12, 2025. The auction includes 91-day, 182-day, and 364-day T-Bills with a combined issue size of Rs. 19,000 crores. Trading members can participate through BSE’s NCB-GSec module on the iBBS web-based platform.

Key Points

  • Three T-Bills will be auctioned: 91-day (Rs. 7,000 cr), 182-day (Rs. 6,000 cr), and 364-day (Rs. 6,000 cr)
  • Bid collection starts November 11, 2025 at 10:00 AM for 24-hour availability
  • Direct investors can bid until November 11, 2025 at 5:00 PM
  • Trading members can bid until November 12, 2025 at 8:00 AM
  • Minimum lot size: 100 units with minimum amount of Rs. 10,000
  • Maximum bid amounts: Rs. 350 cr (91-day), Rs. 300 cr (182-day and 364-day)
  • Settlement date: November 13, 2025
  • Bidding platform: https://ibbs.bseindia.com » NCB-GSec module

Regulatory Changes

No regulatory changes. This circular is issued in continuation of Exchange circular no. 20180423-42 dated April 26, 2018 regarding the launch of non-competitive bidding facility for Government Securities auctions.

Compliance Requirements

  • Trading members wishing to participate must access the NCB-GSec module through BSE’s iBBS web-based system
  • Direct investors must submit bids by November 11, 2025 at 5:00 PM
  • Trading members must submit bids by November 12, 2025 at 8:00 AM
  • Bidders must adhere to minimum lot size of 100 units and minimum bid amount of Rs. 10,000
  • Maximum bid limits per security must be observed

Important Dates

  • November 11, 2025, 10:00 AM: Bid collection starts (24-hour availability)
  • November 11, 2025, 5:00 PM: Bid collection end for direct investors
  • November 12, 2025, 8:00 AM: Bid collection end for trading members
  • November 12, 2025: Auction date
  • November 13, 2025: Settlement date

Impact Assessment

This is a routine treasury bill auction notification with minimal market impact. The non-competitive bidding facility provides retail investors and smaller participants an opportunity to invest in government securities without competing with institutional bidders. The three T-Bills offer short-term investment options ranging from 3 months to 1 year. Total issue size of Rs. 19,000 crores is within normal auction volumes. Impact is limited to debt market participants and investors seeking risk-free short-term instruments.

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Impact Justification

Routine auction notification for treasury bills with standard bidding procedures. Primarily relevant to debt market participants.