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 crores on January 21, 2026.

Summary

BSE has announced the availability of non-competitive bidding facility for trading members to participate in the RBI’s auction of Treasury Bills scheduled for January 21, 2026. The Government of India will auction three T-Bills (91-day, 182-day, and 364-day) with a combined issue size of Rs. 29,000 crores. Bidding will be conducted through BSE’s NCB-GSec module on the iBBS web-based platform.

Key Points

  • Three Treasury Bills to be auctioned: 91-day (Rs. 9,000 cr), 182-day (Rs. 12,000 cr), and 364-day (Rs. 8,000 cr)
  • Minimum lot size: 100 units with minimum amount of Rs. 10,000 for all three T-Bills
  • Maximum bidding limits: Rs. 450 cr (91-day), Rs. 600 cr (182-day), Rs. 400 cr (364-day)
  • Bidding platform: BSE’s iBBS web-based system - NCB-GSec module (https://ibbs.bseindia.com)
  • Facility available to both direct investors and trading members
  • This is in continuation of Exchange circular no. 20180423-42 dated April 26, 2018

Regulatory Changes

No regulatory changes. This circular provides operational details for an existing non-competitive bidding facility as per the earlier framework established in April 2018.

Compliance Requirements

  • Trading members interested in participating must submit bids through the NCB-GSec module
  • Direct investors must complete bidding by January 20, 2026, 5:00 PM
  • Trading members must complete bidding by January 21, 2026, 8:00 AM
  • Members should ensure proper user ID and password access to the iBBS platform
  • Contact designated BSE teams for user creation, password resets, or bidding queries

Important Dates

  • January 16, 2026: RBI press release announcing T-Bill auction
  • January 19, 2026, 10:00 AM: Bid collection start date (24-hour availability)
  • January 20, 2026, 5:00 PM: Bid collection end for direct investors
  • January 21, 2026, 8:00 AM: Bid collection end for trading members
  • January 21, 2026: Auction date
  • January 22, 2026: Settlement date

Impact Assessment

This is a routine operational circular for debt market participants with no impact on equity markets. The facility enables non-competitive participation in government securities auctions, providing retail and institutional investors access to T-Bills without competing on price. The three T-Bills being auctioned are:

  1. 091T220426 (91-day T-Bill) - maturing April 22, 2026
  2. 182T220726 (182-day T-Bill) - maturing July 22, 2026
  3. 364T21127 (364-day T-Bill) - maturing January 21, 2027

Contact information provided for queries: Trading Operations (user creation, bidding queries) and ICCL Operations (obligation and pay-in queries).

Impact Justification

Routine procedural circular for debt market participants regarding T-Bill auction facility; no impact on equity markets or compliance changes