India Announces Treasury Bill Auction Calendar for Q4 2026
The Government of India, in collaboration with the Reserve Bank of India, has unveiled the auction calendar for Treasury Bills slated for the quarter ending December 2026. This announcement comes as part of the regular issuance of Treasury Bills in various tenors, providing a framework for investors and market participants.
In total, there will be 13 auctions of Treasury Bills throughout the quarter, specifically covering tenors of 91 days, 182 days, and 364 days. Each auction will see a notified amount of ₹23,000 crore allocated per date. The breakdown reveals that ₹8,000 crore will be available for the 91-day and 182-day bills, while ₹7,000 crore will be offered for the 364-day bills.
Scheduled Auction Dates
The schedule for these auctions spans from early October to late December, with auctions conducted on almost every week. The first auction is set for October 7, 2026, with the issued funds becoming available the following day on October 8, 2026. Subsequent auctions will follow a consistent pattern, occurring weekly into December, culminating with the last auction on December 30, and the issuance on December 31.
The detailed auction dates are as follows:
- October 7, 2026 – Issue on October 8, 2026
- October 14, 2026 – Issue on October 15, 2026
- October 21, 2026 – Issue on October 22, 2026
- October 28, 2026 – Issue on October 29, 2026
- November 4, 2026 – Issue on November 5, 2026
- November 11, 2026 – Issue on November 12, 2026
- November 18, 2026 – Issue on November 19, 2026
- November 25, 2026 – Issue on November 26, 2026
- December 2, 2026 – Issue on December 3, 2026
- December 9, 2026 – Issue on December 10, 2026
- December 16, 2026 – Issue on December 17, 2026
- December 23, 2026 – Issue on December 24, 2026
- December 30, 2026 – Issue on December 31, 2026
This issuance strategy aims to maintain liquidity in the financial system while enabling the government to meet its funding requirements. The total notified amount for the quarter stands at ₹2,99,000 crore across all bids.
Flexibility in Issuance
The government retains the right to adjust both the amounts and the timing of the auctions based on market needs and other relevant variables. Any changes to the announced schedule will be communicated to the market through press releases, ensuring transparency and awareness among investors.
The auctions will adhere to the stipulations established in the General Notification No. F.4(2)-B(W&M)/2018, updated as necessary, which sets forth the governing conditions for the Treasury Bill program.
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