The Government of India, through the Reserve Bank of India (RBI), has released the Treasury Bills (T-Bills) auction calendar for the first quarter of 2026, giving investors clarity on upcoming short-term borrowing plans and investment opportunities.
What are Treasury Bills?
Treasury Bills are short-term government securities issued to meet the Centre’s immediate funding requirements. They are considered one of the safest investment options since they are backed by the Government of India. T-Bills do not pay interest; instead, they are issued at a discount to face value, and investors receive the full face value on maturity, with the difference being the return.
Typically, T-Bills are issued with maturities of 91 days, 182 days, and 364 days, offering predictable returns with high liquidity.
Q1 2026 T-Bills Auction Calendar
As per the calendar released, the RBI will conduct weekly auctions for different tenures throughout the April–June 2026 quarter. These auctions help the government manage short-term cash requirements while providing investors with regular opportunities to deploy surplus funds.
How to Buy Treasury Bills
Retail investors can invest in T-Bills through multiple channels:
- RBI Retail Direct Platform
Individuals can open an account on the RBI’s Retail Direct portal and participate directly in primary auctions without intermediaries. - Banks and Primary Dealers
Investors can also purchase T-Bills through banks or authorised primary dealers, either during auctions or from the secondary market. - Mutual Funds
Those looking for indirect exposure can invest in liquid funds or money market funds, which allocate a portion of their portfolio to T-Bills.
Why Invest in T-Bills?
- Low risk due to sovereign backing
- Predictable returns over a short tenure
- High liquidity, especially for short-term needs
- Suitable for conservative investors or those parking surplus cash
With the Q1 2026 auction calendar now available, investors can better plan their short-term investments and take advantage of secure, government-backed returns amid changing interest rate conditions.
