India T-bill auction: 364-day cut-off yield reaches 6.6394%
The Reserve Bank of India accepted ₹23,000 crore at the 11 November 2026 Treasury bill auction. The cut-off yield was 5.8681% for 91-day bills, 6.5183% for 182-day bills and 6.6394% for 364-day bills.
Auction results by maturity
| Maturity | Face value accepted | Cut-off yield |
|---|---|---|
| 91 days | ₹8,000 crore | 5.8681% |
| 182 days | ₹8,000 crore | 6.5183% |
| 364 days | ₹7,000 crore | 6.6394% |
How to read the quoted yields
Treasury bills are sold at a discount and repay their face value at maturity. The yield is an annualised measure calculated from the price and time remaining. A 91-day bill therefore earns a fraction of the quoted annualised yield over its actual holding period.
These figures apply to this auction. Prices and yields change at later auctions and in the secondary market. The Treasury bill guide explains how the purchase price and maturity payment fit together.