Description

BSE announces non-competitive bidding facility for three Treasury Bills (91-day, 182-day, and 364-day) to be auctioned by RBI on November 19, 2025, with total issue size of Rs. 19,000 crore.

Summary

BSE has announced the availability of non-competitive bidding facility for the auction of three Treasury Bills scheduled by the Reserve Bank of India on November 19, 2025. Trading members can participate through BSE’s NCB-GSec module on the iBBS platform. The auction covers 91-day, 182-day, and 364-day T-Bills with a combined issue size of Rs. 19,000 crore.

Key Points

  • Three T-Bills will be auctioned: 91-day (Rs. 7,000 crore), 182-day (Rs. 6,000 crore), and 364-day (Rs. 6,000 crore)
  • Bidding available through BSE’s iBBS web-based NCB-GSec module at https://ibbs.bseindia.com
  • Minimum lot size: 100 units with minimum amount of Rs. 10,000
  • Maximum bid limits: Rs. 350 crore (91-day), Rs. 300 crore (182-day and 364-day)
  • Separate deadlines for direct investors and members
  • Settlement on November 20, 2025

Regulatory Changes

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

Compliance Requirements

  • Trading members must submit bids through the designated NCB-GSec module on BSE’s iBBS platform
  • Direct investors must submit bids by November 18, 2025, till 5:00 pm
  • Trading members must submit bids by November 19, 2025, till 8:00 am
  • Bidding starts November 17, 2025, from 10:00 am onwards (24-hour availability)
  • Participants must adhere to minimum lot sizes of 100 units and minimum amount of Rs. 10,000
  • Maximum bid amounts must not exceed specified limits per security type

Important Dates

  • November 17, 2025, 10:00 am: Bid collection start date
  • November 18, 2025, 5:00 pm: Bid collection end date for direct investors
  • November 19, 2025, 8:00 am: Bid collection end date for members
  • November 19, 2025: Auction date
  • November 20, 2025: Settlement date

Impact Assessment

This is a routine operational circular with minimal market impact. It facilitates participation of retail and institutional investors in the government securities primary market through the non-competitive bidding route. The circular provides procedural information for debt market participants and does not affect equity trading or listed companies. Impact is limited to trading members and investors interested in Treasury Bills as a fixed-income investment option. Contact information is provided for trading operations, bidding queries, and settlement-related issues through BSE and ICCL teams.

Impact Justification

Routine operational circular for debt market participants regarding T-Bill auction bidding process; primarily affects institutional investors and trading members in debt segment with no impact on equity markets.