Description

BSE announces non-competitive bidding facility for RBI's auction of three Treasury Bills (91-day, 182-day, and 364-day) totaling Rs. 19,000 crore on December 10, 2025.

Summary

BSE notifies trading members about the availability of non-competitive bidding facility for participating in RBI’s auction of three Treasury Bills scheduled for December 10, 2025. The Government of India will sell 91-day, 182-day, and 364-day T-Bills with a combined issue size of Rs. 19,000 crore. Bidding will be conducted through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Three T-Bills to be auctioned: 91-day (Rs. 7,000 cr), 182-day (Rs. 6,000 cr), and 364-day (Rs. 6,000 cr)
  • Bidding through BSE’s iBBS NCB-GSec module at https://ibbs.bseindia.com
  • Minimum lot size: 100 units with minimum amount Rs. 10,000 for all three securities
  • Maximum bid limits: Rs. 350 cr (91-day), Rs. 300 cr (182-day and 364-day)
  • Bid collection starts December 8, 2025 from 10:00 am with 24-hour availability
  • Settlement on T+1 basis (December 11, 2025)

Regulatory Changes

No regulatory changes. This circular continues the existing non-competitive bidding facility framework established through Exchange circular no. 20180423-42 dated April 26, 2018.

Compliance Requirements

Trading members interested in participating must:

  • Access the NCB-GSec module of BSE’s iBBS platform
  • Submit bids within specified timelines (direct investors by December 9, 5:00 pm; members by December 10, 8:00 am)
  • Ensure minimum bid amount of Rs. 10,000 and adhere to maximum bid limits per security
  • Contact specified BSE/ICCL teams for user ID creation, bidding queries, or settlement-related issues

Important Dates

  • December 5, 2025: RBI press release announcing auction
  • December 8, 2025, 10:00 am: Bid collection opens
  • December 9, 2025, 5:00 pm: Bid collection closes for direct investors
  • December 10, 2025, 8:00 am: Bid collection closes for members
  • December 10, 2025: Auction date
  • December 11, 2025: Settlement date

Impact Assessment

Market Impact: Low. Routine T-Bill auction facility providing debt market participants access to government securities investment opportunities.

Operational Impact: Limited to debt market trading members who choose to participate in the non-competitive bidding process. No impact on equity markets or listed companies.

Investor Impact: Provides retail and institutional investors an avenue to invest in risk-free government securities through BSE’s platform with specified investment limits.

Impact Justification

Routine operational circular for debt market participants regarding T-Bill auction facility. No regulatory changes or compliance impact on listed companies.