Bond threat: Rising treasury yields can shake India

The Reserve Bank of India has announced the calendar for auction of Treasury Bills issued by the Government of India for the quarter ending December 2026. The auction will take place for 91-day, 182-day, and 364-day Treasury Bills, with a total amount of ₹2,99,000 crore to be auctioned.

The auction dates and corresponding issue dates are as follows: October 07 and 08, October 14 and 15, October 21 and 22, October 28 and 29, November 04 and 05, November 11 and 12, November 18 and 19, November 25 and 26, December 02 and 03, December 09 and 10, December 16 and 17, and December 23 and 24, 2026. For each auction date, ₹8,000 crore worth of 91-day, ₹8,000 crore worth of 182-day, and ₹7,000 crore worth of 364-day Treasury Bills will be auctioned, totaling ₹23,000 crore per month.

The Reserve Bank of India, in consultation with the Government of India, retains the discretion to adjust the auction amount and timing as per the Government's requirements, prevailing market conditions, and other relevant factors. However, any such changes, including due to intervening holidays, will be communicated through press releases.

The auction of Treasury Bills is subject to the terms and conditions outlined in the General Notification No. F.No.4(2)-B(W&M)/2018, issued by the Government of India on March 26, 2025, and subsequently amended as per necessity.