India’s Reserve Bank accepted the full ₹23,000 crore offered in its Nov. 11 Treasury bill sale across three maturities, following an auction with no 182-day allocation.
The RBI accepted ₹8,000 crore in 91-day bills, ₹8,000 crore in 182-day bills and ₹7,000 crore in 364-day bills. Each amount matched the notified face value for that maturity.
Cut-off yields were 5.8681% for 91-day bills, 6.5183% for 182-day bills and 6.6394% for 364-day bills. The corresponding cut-off prices were ₹98.5581, ₹96.8521 and ₹93.7900.
The RBI’s Nov. 4 auction result showed ₹15,000 crore accepted overall, with no allocation in the 182-day tranche. For maturities allocated in both auctions, the 91-day yield eased from 5.8970% to 5.8681%, while the 364-day yield moved from 6.6485% to 6.6394%.
