Description
BSE announces non-competitive bidding facility for auction of three Treasury Bills (91-day, 182-day, 364-day) on February 25, 2026, with total issue size of Rs. 34,000 crore via the NCB-GSec module on iBBS platform.
Summary
BSE has announced the non-competitive bidding (NCB) facility for the Government of India’s auction of three Treasury Bills on February 25, 2026, as announced by RBI on February 20, 2026. Trading members can participate via the NCB-GSec module on BSE’s iBBS web-based bidding platform. The total issue size across all three T-Bills is Rs. 34,000 crore.
Key Points
- Three Treasury Bills are being auctioned: 91-day, 182-day, and 364-day T-Bills.
- Bidding is available through the NCB-GSec module at https://ibbs.bseindia.com.
- Bid collection starts February 23, 2026 from 10:00 am (24-hour availability).
- Direct investors must submit bids by February 24, 2026 till 5:00 pm.
- Trading members must submit bids by February 25, 2026 till 8:00 am.
- Minimum lot size is 100 units with a minimum bid amount of Rs. 10,000.
- This is in continuation of Exchange circular no. 20180423-42 dated April 26, 2018.
Regulatory Changes
No new regulatory changes. This circular is in continuation of the existing NCB framework established via Exchange circular no. 20180423-42 (April 26, 2018) for non-competitive participation in RBI-conducted Government Securities auctions.
Compliance Requirements
- Trading members wishing to participate must use the NCB-GSec module on the iBBS platform.
- Members must ensure bids are submitted before February 25, 2026 at 8:00 am.
- Direct investors must submit bids before February 24, 2026 at 5:00 pm.
- Minimum bid amount is Rs. 10,000; maximum per security varies (Rs. 700 Cr for 91-day, Rs. 600 Cr for 182-day, Rs. 400 Cr for 364-day).
Important Dates
| Event | Date/Time |
|---|---|
| Bid Collection Start | February 23, 2026, 10:00 am |
| Bid Deadline (Direct Investors) | February 24, 2026, 5:00 pm |
| Bid Deadline (Members) | February 25, 2026, 8:00 am |
| Auction Date | February 25, 2026 |
| Settlement Date | February 26, 2026 |
Impact Assessment
Securities Available:
| Security | Symbol | Type | Issue Size (Cr) | Max Amt per Bidder (Cr) |
|---|---|---|---|---|
| 91 Day T-Bill | 091T270526 | New | 14,000 | 700 |
| 182 Day T-Bill | 182T260826 | New | 12,000 | 600 |
| 364 Day T-Bill | 364T250227 | New | 8,000 | 400 |
This is a routine, time-sensitive operational circular for debt market participants. It provides short-term government paper investment opportunities for trading members and direct investors. The total auction size of Rs. 34,000 crore is significant for the debt market. Impact is primarily on debt segment participants utilizing the BSE NCB-GSec platform.
Impact Justification
Routine operational circular for a scheduled T-Bill auction with standard NCB process; relevant to debt market participants and trading members but not a regulatory change or high-impact event.