RBI auctioned 91-day, 182-day, and 364-day Treasury Bills for ₹8,000 crore each on October 21, 2026. The 6.94% GS 2036 bond auction saw a cut-off yield of 7.3955% with full acceptance and no devolvement.
RBI Treasury and Government Security Auctions Conclude with Strong Response
The Reserve Bank of India conducted auctions for 91-day, 182-day, and 364-day Treasury Bills on October 21, 2026, with a notified amount of ₹8,000 crore for each tenure. The settlement for all three will occur on October 22, 2026. These regular auctions form part of the government’s market borrowing programme to manage short-term liquidity and fiscal requirements.
In a separate auction, the 6.94% Government Stock (GS) 2036 received competitive bids totalling ₹94,072.116 crore against a notified amount of ₹34,000 crore, indicating robust investor appetite. The cut-off price was set at ₹96.91, corresponding to a yield of 7.3955%. All ₹34,000 crore were accepted competitively, with no devolvement on primary dealers, reflecting market confidence.
Implication for practitioners: Treasury and capital markets lawyers should monitor bidding patterns and yield trends for advising clients on fixed-income instruments. The absence of devolvement suggests effective underwriting performance, relevant for PD accountability frameworks.
