Government Releases Treasury Bills Auction Calendar for Quarter Ending September 2026

📌 Summary:

• The Government of India, in consultation with the Reserve Bank of India (RBI), released the calendar for issuance of Treasury Bills (T-Bills) for the quarter ending September 2026 (July–September 2026)
• Weekly auctions are planned across three tenors — 91-day, 182-day and 364-day T-Bills — with each weekly auction notified at ₹9,000 cr (91-day), ₹8,000 cr (182-day) and ₹7,000 cr (364-day), i.e. ₹24,000 cr per week
• Quarterly totals: ₹1,26,000 cr (91-day) + ₹1,12,000 cr (182-day) + ₹98,000 cr (364-day) = ₹3,36,000 crore
• The government/RBI retain flexibility to modify the amount and timing depending on requirements, evolving market conditions and other factors, with due notice to the market
• Auctions are governed by the terms of General Notification No. F.4(2)-B(W&M)/2018 dated 26 March 2025, as amended

🎯 UPSC Relevance: GS3 Economy (Government Budgeting/short-term borrowing) — instruments of the Centre's cash/debt management and the working of the money market.

📝 Prelims Facts:

• Treasury Bills are short-term money-market instruments issued in 91-, 182- and 364-day tenors; they are zero-coupon (issued at a discount, redeemed at face value)
• T-Bills are issued by the RBI on behalf of the Government of India
• Total notified amount for July–September 2026: ₹3,36,000 crore

🔑 Key Term: Treasury Bill (T-Bill) — a short-term (up to 1 year) sovereign debt instrument issued at a discount to face value to meet the government's short-term funding needs.