Description
BSE announces non-competitive bidding facility for three Government of India Treasury Bills (91-day, 182-day, 364-day) to be auctioned on March 04, 2026, with bid collection opening March 02, 2026.
Summary
BSE has announced the Non-Competitive Bidding (NCB) facility for the Government of India’s auction of three Treasury Bills on March 04, 2026. Trading members may participate through the NCB-GSec module of BSE’s iBBS web-based bidding platform. This circular is issued in continuation of Exchange circular no. 20180423-42 dated April 26, 2018, and in reference to an RBI press release dated February 27, 2026.
Key Points
- Three Treasury Bills are being auctioned: 91-day, 182-day, and 364-day T-Bills
- Total issue size across all three bills: ₹34,000 crore (₹14,000 Cr + ₹12,000 Cr + ₹8,000 Cr)
- Bidding is available via the NCB-GSec module at https://ibbs.bseindia.com
- All three T-Bills are new issuances (not reissues)
- Minimum lot size is 100 units with a minimum amount of ₹10,000 per bid
- Maximum bid amount per security: ₹700 Cr (91-day), ₹600 Cr (182-day), ₹400 Cr (364-day)
Regulatory Changes
No new regulatory changes. This circular operationalises the existing NCB framework established under Exchange circular no. 20180423-42 (April 26, 2018) for the specific upcoming auction.
Compliance Requirements
- Trading members wishing to participate must use the NCB-GSec module on the iBBS platform
- Direct investors must submit bids by March 03, 2026, 5:00 PM
- Members must submit bids by March 04, 2026, 8:00 AM
- Bids must comply with minimum lot (100 units) and minimum amount (₹10,000) requirements
- For new user IDs or password resets, contact Trading Operations at user.trdops@bseindia.com or 022-2272 8005/8215
Important Dates
| Event | Date & Time |
|---|---|
| Bid Collection Start | March 02, 2026, 10:00 AM (24-hour availability) |
| Bid Collection End (Direct Investors) | March 03, 2026, 5:00 PM |
| Bid Collection End (Members) | March 04, 2026, 8:00 AM |
| Auction Date | March 04, 2026 |
| Settlement Date | March 05, 2026 |
Impact Assessment
This circular is relevant primarily to debt market participants and trading members who engage in government securities auctions. The combined issue size of ₹34,000 crore across three T-Bill tenors indicates significant short-term government borrowing activity. The non-competitive bidding mechanism allows smaller participants to invest in T-Bills without quoting a specific yield, providing broader market access. Equity markets are not directly affected. Members dealing in debt instruments should ensure timely registration on the iBBS platform and adhere to the bid collection deadlines.
Impact Justification
Routine operational notice for trading members about NCB facility for T-Bill auctions; relevant to debt market participants but does not affect equity markets or broad compliance obligations.