India Raises Rs 190 Billion Through Treasury Bill Auctions As Yields Show Mixed Movement

Mixed Yield Trends Emerge In Latest Treasury Bill Auctions

In its latest round of short-term debt auctions, the Government of India sold a total of Rs 190 billion worth of Treasury bills across three tenures. The Reserve Bank of India (RBI) conducted the auctions on November 6, 2025, with bids reflecting cautious optimism from market participants.

The 91-day T-bill saw Rs 70 billion raised at a cut-off price of Rs 98.6598, translating to a yield of 5.4485%, slightly lower than the previous 5.4580%. The 182-day T-bill fetched Rs 60 billion at Rs 97.2883, with a yield of 5.5899%, down from 5.5990%. Meanwhile, the 364-day T-bill also raised Rs 60 billion, priced at Rs 94.7219, with its yield rising to 5.5875% from 5.5813%.

The yield movements suggest a balanced outlook on short-term interest rates, with investors factoring in inflation trends and monetary policy cues.

Key Highlights  

• Total Rs 190 billion raised via T-bill auctions  
• 91-day yield: 5.4485% (down from 5.4580%)  
• 182-day yield: 5.5899% (down from 5.5990%)  
• 364-day yield: 5.5875% (up from 5.5813%)  
• Auctions reflect stable liquidity and cautious rate outlook  

Sources: Reuters, Reserve Bank of India, Business Standard, Economic Times