Description

BSE announces non-competitive bidding facility for RBI's auction of three Treasury Bills (91-day, 182-day, and 364-day) totaling Rs. 29,000 crore on January 14, 2026.

Summary

BSE has announced the availability of non-competitive bidding facility for participation in the Reserve Bank of India’s auction of three Treasury Bills scheduled for January 14, 2026. The Government of India will sell 91-day, 182-day, and 364-day T-Bills totaling Rs. 29,000 crore. Trading members can submit bids through BSE’s NCB-GSec module on the iBBS web-based system.

Key Points

  • Three T-Bills to be auctioned: 91-day (Rs. 9,000 cr), 182-day (Rs. 12,000 cr), and 364-day (Rs. 8,000 cr)
  • Bid collection starts January 12, 2026 at 10:00 AM with 24-hour availability
  • Direct investors bid deadline: January 13, 2026 at 5:00 PM
  • Trading members bid deadline: January 14, 2026 at 8:00 AM
  • Minimum lot size: 100 units (Rs. 10,000 minimum amount)
  • Maximum bid limits: Rs. 450 cr (91-day), Rs. 600 cr (182-day), Rs. 400 cr (364-day)
  • Settlement date: January 16, 2026
  • Bidding through iBBS NCB-GSec module at https://ibbs.bseindia.com

Regulatory Changes

No regulatory changes. This circular continues the existing non-competitive bidding facility launched via BSE circular no. 20180423-42 dated April 26, 2018.

Compliance Requirements

  • Trading members must use the NCB-GSec module of BSE’s iBBS web-based system for bid submission
  • Direct investors must submit bids by January 13, 2026 at 5:00 PM
  • Trading members must submit bids by January 14, 2026 at 8:00 AM
  • Minimum investment of Rs. 10,000 in multiples of 100 units
  • Maximum investment limits per security must be observed
  • Contact BSE Trading Operations for user ID creation or password reset
  • Contact ICCL Operations for obligation and pay-in related matters

Important Dates

  • January 12, 2026: Bid collection starts at 10:00 AM
  • January 13, 2026: Bid collection deadline for direct investors (5:00 PM)
  • January 14, 2026: Bid collection deadline for members (8:00 AM); Auction date
  • January 16, 2026: Settlement date

Impact Assessment

Market Impact: Low - This is a routine debt market operation for government securities. The auction provides liquidity management opportunity for institutional and retail investors seeking risk-free short-term instruments.

Operational Impact: Low - Standard bidding process using existing BSE infrastructure. No changes to existing procedures or systems.

Investor Impact: Limited to debt market participants interested in Treasury Bills. Provides non-competitive bidding access to government securities auction, eliminating price discovery risk for small investors.

Liquidity: The total issue size of Rs. 29,000 crore represents standard T-Bill auction volume and will not materially impact market liquidity.

Impact Justification

Routine announcement of T-Bill auction facility with standard bidding process. No market-wide impact or regulatory changes. Relevant only for debt market participants interested in government securities.