The government had notified Rs 12,000 crore for 91-day T-bills, and Rs 6,000 crore each for 182-day and 364-day papers. Bidding interest was strong, particularly in the shorter tenors, reflecting continued demand for near-term instruments amid evolving rate expectations.

For the 91-day T-bill, bids worth Rs 33,670.2 crore were received against the notified Rs 12,000 crore. The cut-off yield came in at 5.2150%, with a corresponding price of Rs 98.7165. The weighted average yield stood slightly lower at 5.1916%, indicating aggressive bidding. The government accepted Rs 11,400 crore through competitive bids, while non-competitive bids worth Rs 20,762.96 crore were also allotted.

In the 182-day segment, the auction drew bids worth Rs 26,290.2 crore against Rs 6,000 crore on offer. The cut-off yield was set at 5.4700% (price Rs 97.3449), while the weighted average yield stood at 5.4616%. Competitive bids worth Rs 5,700 crore were accepted, alongside Rs 14,700 crore of non-competitive allotments.

The 364-day T-bill saw relatively moderate demand, with bids worth Rs 12,150.2 crore for the Rs 6,000 crore issue. The cut-off yield stood at 5.5990% (price Rs 94.7116), while the weighted average yield came in at 5.5797%. Competitive allotment stood at Rs 5,700 crore, with Rs 300 crore accepted under the non-competitive segment.

Partial allotments were seen across tenors, most notably in the 364-day paper where a high allotment ratio of 76.2% reflected concentrated bidding at the cut-off level.