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India T-Bill Yields Dip on Strong Investor Demand
22 Apr
Summary
- Treasury Bill auction on April 22, 2026, showed strong investor demand.
- Yields softened marginally across maturities as appetite remained firm.
- Bidding interest was particularly strong in shorter tenors.
On April 22, 2026, India's Treasury Bill auction demonstrated strong investor demand, resulting in a slight decrease in yields. The government had offered Rs 12,000 crore for 91-day T-bills, Rs 6,000 crore for 182-day T-bills, and Rs 6,000 crore for 364-day T-bills.
Investor appetite remained firm, with bids significantly exceeding the notified amounts. The 91-day T-bill received bids worth Rs 33,670.2 crore against Rs 12,000 crore on offer, closing at a yield of 5.2150%. The 182-day T-bill saw Rs 26,290.2 crore in bids for its Rs 6,000 crore issue, with a cut-off yield of 5.4700%.
The 364-day T-bill garnered Rs 12,150.2 crore in bids for the Rs 6,000 crore on offer, settling at a yield of 5.5990%. Partial allotments were noted, particularly in the 364-day paper, indicating concentrated bidding at the cut-off level.
