⏺ Treasury bills or T-bills are money market instruments and short term debt instruments issued by the Government of India.
✔️They are presently issued in three tenors, namely, 91 days, 182 days and 364 days.
✔️Treasury bills are zero coupon securities and pay no interest.
✔️They are issued at a discount and redeemed at the face value at maturity. The return to the investors is the difference between the maturity value or the face value and the issue price.
✔️The Reserve Bank of India conducts auctions usually every Wednesday to issue T-bills.
✔️Settlement for the T-bills auctioned is made on T+1 day i.e. on the working day following the trade day.
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