Description

BSE announces non-competitive bidding facility for auction of three Treasury Bills (91-day, 182-day, 364-day) by the Government of India on February 25, 2026, with bidding available through the NCB-GSec module of BSE's iBBS platform.

Summary

BSE has announced the non-competitive bidding facility for the Government of India’s auction of three Treasury Bills on February 25, 2026. Trading members and direct investors can participate through the NCB-GSec module of BSE’s iBBS web-based bidding platform. The auction covers 91-day, 182-day, and 364-day T-Bills with a combined issue size of ₹34,000 crore.

Key Points

  • The Government of India will auction three Treasury Bills on February 25, 2026, as announced by RBI on February 20, 2026.
  • Bidding is available through the NCB-GSec module at https://ibbs.bseindia.com.
  • Three T-Bill securities are on offer: 91-day (₹14,000 Cr), 182-day (₹12,000 Cr), and 364-day (₹8,000 Cr).
  • All three T-Bills are new issues (not reissues).
  • Minimum lot size is 100 units with a minimum amount of ₹10,000 per bid.
  • Maximum bid amount is capped at ₹700 Cr (91-day), ₹600 Cr (182-day), and ₹400 Cr (364-day).
  • This circular is in continuation of Exchange Circular No. 20180423-42 dated April 26, 2018.

Regulatory Changes

No new regulatory changes introduced. This circular operates under the existing non-competitive bidding framework established by Exchange Circular No. 20180423-42 (April 26, 2018).

Compliance Requirements

  • Trading members must use the NCB-GSec module on the iBBS platform to submit bids.
  • Members must submit bids before February 25, 2026, 8:00 AM.
  • Direct investors must submit bids before February 24, 2026, 5:00 PM.
  • For new user ID creation or password reset, contact Trading Operations at user.trdops@bseindia.com or 022-2272 8005/8215.
  • For bidding queries, contact trading.ops@bseindia.com or 022-2272 8376/5626/8226.
  • For obligation and pay-in queries, contact ICCL Operations at Collaterals@icclindia.com or settlements@icclindia.com or 022-2272 8468/8704/8264.

Important Dates

  • February 23, 2026, 10:00 AM: Bid collection opens (24-hour availability thereafter).
  • February 24, 2026, 5:00 PM: Bid collection closes for direct investors.
  • February 25, 2026, 8:00 AM: Bid collection closes for trading members.
  • February 25, 2026: Auction date.
  • February 26, 2026: Settlement date.

Impact Assessment

This is a routine operational circular for debt market participants. Trading members and direct investors seeking to participate in the non-competitive segment of the GoI T-Bill auction must act within the specified bid collection windows. The total issuance of ₹34,000 crore across three maturities (91-day, 182-day, 364-day) provides short-term government paper across multiple tenors. Impact is limited to debt market participants using BSE’s iBBS platform; no impact on equity markets or broader regulatory compliance obligations.

Impact Justification

Routine periodic announcement for non-competitive bidding in government T-Bill auctions; relevant to trading members and direct investors in debt instruments but not a regulatory change or market-wide disruption.