Description

BSE announces non-competitive bidding facility for three Treasury Bills (91-day, 182-day, and 364-day) to be auctioned by RBI on January 21, 2026, with total issue size of Rs. 29,000 crores.

Summary

BSE announces the availability of non-competitive bidding facility for three Treasury Bills being auctioned by RBI on January 21, 2026. Trading members can submit bids through BSE’s iBBS web-based NCB-GSec module for 91-day, 182-day, and 364-day T-Bills with a combined issue size of Rs. 29,000 crores. This follows RBI’s press release dated January 16, 2026, and is in continuation of the non-competitive bidding facility launched in April 2018.

Key Points

  • Three Treasury Bills available for auction: 91-day (Rs. 9,000 Cr), 182-day (Rs. 12,000 Cr), and 364-day (Rs. 8,000 Cr)
  • Bidding through BSE’s iBBS platform NCB-GSec module at https://ibbs.bseindia.com
  • Minimum bid lot of 100 units (Rs. 10,000 minimum amount) for all three T-Bills
  • Maximum bid limits: Rs. 450 Cr (91-day), Rs. 600 Cr (182-day), Rs. 400 Cr (364-day)
  • Bid collection starts January 19, 2026 at 10:00 AM with 24-hour availability
  • Settlement date: January 22, 2026

Regulatory Changes

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

Compliance Requirements

For Trading Members:

  • Submit bids for clients through NCB-GSec module by January 21, 2026 at 8:00 AM
  • Ensure minimum lot size of 100 units (Rs. 10,000) and compliance with maximum limits per security
  • Coordinate with Trading Operations for user ID creation, password reset, or bidding queries
  • Contact ICCL Operations for obligation and pay-in related matters

For Direct Investors:

  • Submit bids by January 20, 2026 at 5:00 PM

Important Dates

  • Bid Collection Start: January 19, 2026, 10:00 AM (24-hour availability)
  • Bid Collection End (Direct Investors): January 20, 2026, 5:00 PM
  • Bid Collection End (Members): January 21, 2026, 8:00 AM
  • Auction Date: January 21, 2026
  • Settlement Date: January 22, 2026

Impact Assessment

Market Impact: Low - This is a routine government securities auction process that occurs regularly. The non-competitive bidding facility provides retail and smaller investors access to T-Bill investments.

Operational Impact: Low - Standard operational procedure for trading members already familiar with the NCB-GSec bidding platform. No changes to existing systems or processes.

Investor Impact: Low to Medium - Provides opportunity for investors to participate in government securities auction with guaranteed allocation (subject to limits) without competing on yield with institutional investors. The three different tenors (91, 182, 364 days) offer flexibility for short-term investment strategies.

Impact Justification

Routine operational circular for T-Bill auction bidding process. Standard non-competitive bidding facility with no regulatory changes or market-wide impact.