{"id":226592,"date":"2025-09-26T11:33:04","date_gmt":"2025-09-26T06:03:04","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=226592"},"modified":"2025-09-26T11:33:14","modified_gmt":"2025-09-26T06:03:14","slug":"treasury-bills","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/","title":{"rendered":"Treasury Bills (T-Bills) Meaning, Features &#038; Types Explained"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#What_are_Treasury_Bills_T-Bills\" >What are Treasury Bills (T-Bills)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Importance_of_Treasury_Bills_in_Bank_Exams\" >Importance of Treasury Bills in Bank Exams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Features_of_Treasury_Bills\" >Features of Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Types_of_Treasury_Bills_in_India\" >Types of Treasury Bills in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Why_Does_the_Government_Issue_Treasury_Bills\" >Why Does the Government Issue Treasury Bills?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Yield_on_Treasury_Bills\" >Yield on Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Advantages_and_Limitations_of_Treasury_Bills\" >Advantages and Limitations of Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Taxation_on_Treasury_Bills\" >Taxation on Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Treasury_Bills_in_India_vs_USA\" >Treasury Bills in India vs. USA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#Bank_Exam_Preparation_Practice_%E2%80%93_Treasury_Bills\" >Bank Exam Preparation Practice \u2013 Treasury Bills<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>For candidates preparing for banking exams like SBI PO, IBPS PO, RBI Grade B, and others, one of the most important topics in the General Awareness and Financial Awareness section is Treasury Bills (T-Bills). Questions are frequently asked on their definition, features, types, and their role in the Indian economy.<\/p>\n\n\n\n<p>Treasury bills are part of the money market instruments that the Government of India and Reserve Bank of India (RBI) use to raise funds and regulate the economy. Since they are considered the safest short-term investment option backed by the government, they are very relevant both for exam preparation and for understanding financial systems. This article explains Treasury Bills in detail with their meaning, features, types, importance, and exam-oriented facts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_Treasury_Bills_T-Bills\"><\/span>What are Treasury Bills (T-Bills)?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A Treasury Bill (T-Bill) is a short-term money market instrument issued by the Government of India through the RBI. These are zero-coupon securities, which means they do not carry any interest (coupon). Instead, they are issued at a discounted price and redeemed at face value on maturity. Treasury Bills are risk-free, short-term government securities that help the government raise funds for meeting short-term needs and help the RBI in controlling money supply and inflation.<\/p>\n\n\n\n<p>For example, suppose you buy a 91-day T-Bill with a face value of \u20b9100 at a discounted price of \u20b998. On maturity, you will receive the full \u20b9100. The difference of \u20b92 is your return or profit.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/lic-aao-mock-test\/\" target=\"_blank\" rel=\"noreferrer noopener\">Start your LIC AAO Preparation with a free Mock Test<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Importance_of_Treasury_Bills_in_Bank_Exams\"><\/span>Importance of Treasury Bills in Bank Exams<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Banking exams test candidates on basic financial instruments like Treasury Bills because:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>They are widely used in the Indian money market.<\/li><li>RBI uses them as a monetary policy tool.<\/li><li>They are part of static GK and <strong><a href=\"https:\/\/www.oliveboard.in\/blog\/insurance-awareness-for-lic-aao\/\" target=\"_blank\" rel=\"noreferrer noopener\">Insurance Awareness<\/a><\/strong>.<\/li><li>Numerical questions can be framed on yield calculation.<\/li><li>They are linked to concepts like open market operations, fiscal deficit, and monetary policy.<\/li><\/ul>\n\n\n\n<p>A few typical exam questions include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>What is the minimum maturity period of Treasury Bills?<\/li><li>Treasury bills are issued at (discount\/premium\/face value)?<\/li><li>Which authority issues Treasury Bills in India?<\/li><li>Formula for yield on Treasury Bills.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Features_of_Treasury_Bills\"><\/span>Features of Treasury Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Treasury bills have certain unique characteristics that distinguish them from other financial instruments.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Issuer<\/strong>: Issued by the Government of India through the RBI.<\/li><li><strong>Tenure<\/strong>: Short-term maturity maximum up to 364 days.<\/li><li><strong>Zero-Coupon<\/strong>: They do not carry any interest; returns are earned through the difference between issue price and face value.<\/li><li><strong>Minimum Investment<\/strong>: \u20b925,000, and in multiples of \u20b925,000 thereafter.<\/li><li><strong>Auction Process<\/strong>: Issued through weekly auctions conducted by the RBI.<\/li><li><strong>Safe Investment<\/strong>: Backed by the central government, hence no default risk.<\/li><li><strong>Liquidity<\/strong>: Can be easily traded in the <strong><a href=\"https:\/\/www.oliveboard.in\/blog\/secondary-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">Secondary Market<\/a><\/strong>.<\/li><li><strong>Tax Treatment<\/strong>: Subject to Short Term Capital Gains (STCG) as per income tax slab but exempt from TDS.<\/li><\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/lic-aao-generalist-complete-batch-prelimsmains-2025-hinglish-1880\/\" target=\"_blank\" rel=\"noreferrer noopener\">Prepare for LIC AAO with experts: enrol now<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Types_of_Treasury_Bills_in_India\"><\/span>Types of Treasury Bills in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Treasury Bills are classified based on their maturity period. Currently, the Government of India issues four types of T-Bills:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Type of T-Bill<\/strong><\/td><td><strong>Tenure (Maturity Period)<\/strong><\/td><td><strong>Typical Investors<\/strong><\/td><\/tr><tr><td>14-day T-Bill<\/td><td>14 days<\/td><td>Mainly financial institutions<\/td><\/tr><tr><td>91-day T-Bill<\/td><td>91 days (3 months approx.)<\/td><td>Banks, corporates, individuals<\/td><\/tr><tr><td>182-day T-Bill<\/td><td>182 days (6 months)<\/td><td>Banks, corporates<\/td><\/tr><tr><td>364-day T-Bill<\/td><td>364 days (1 year)<\/td><td>Wide range of investors<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Note<\/strong>: The most popular ones in India are 91-day, 182-day, and 364-day Treasury Bills, while 14-day T-Bills are issued for specific institutional purposes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Does_the_Government_Issue_Treasury_Bills\"><\/span>Why Does the Government Issue Treasury Bills?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The government issues Treasury Bills mainly for two purposes:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>To Raise Short-Term Funds<\/strong>:<ul><li>Helps bridge the gap between revenue and expenditure.<\/li><li>Used to meet temporary financial needs without resorting to long-term borrowing.<\/li><\/ul><\/li><li><strong>As a Monetary Policy Tool<\/strong>:<ul><li>RBI uses T-Bills to control inflation and liquidity.<\/li><li>During high inflation, more T-bills are issued to absorb excess money supply.<\/li><li>During a recession, RBI reduces issuance to increase money in circulation.<\/li><\/ul><\/li><\/ol>\n\n\n\n<p>Thus, Treasury Bills play a dual role: financing fiscal deficit and regulating money supply.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yield_on_Treasury_Bills\"><\/span>Yield on Treasury Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Since Treasury Bills are issued at a discount and redeemed at face value, the return earned is called the <strong>yield<\/strong>.<\/p>\n\n\n\n<p>The formula for calculating yield is:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"352\" height=\"121\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/09\/image.png\" alt=\"\" class=\"wp-image-226593\"\/><\/figure><\/div>\n\n\n<p>Where:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Y<\/strong> = Yield (%)<\/li><li><strong>P<\/strong> = Purchase price (discounted price)<\/li><li><strong>D<\/strong> = Tenure (days to maturity)<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Example:<\/h3>\n\n\n\n<p>If a 91-day T-Bill has a face value of \u20b9100 and is issued at \u20b998:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"388\" height=\"149\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2025\/09\/image-1.png\" alt=\"\" class=\"wp-image-226594\"\/><\/figure><\/div>\n\n\n<p><strong>Note: <\/strong>This type of calculation is often asked in banking exams.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/lic-aao-previous-year-paper\/\" target=\"_blank\" rel=\"noreferrer noopener\">practice with LIC AAO Previous year papers<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_and_Limitations_of_Treasury_Bills\"><\/span>Advantages and Limitations of Treasury Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Treasury Bills are considered one of the safest short-term investments. However, like all instruments, they have both strengths and weaknesses. Understanding both sides is important for exam preparation as well as practical investment knowledge.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong><strong>Advantages<\/strong><\/strong><\/td><td><strong><strong>Limitations<\/strong><\/strong><\/td><\/tr><tr><td><strong>Risk-Free Investment<\/strong>: Backed by the Government of India, so no default risk.<\/td><td><strong>Low Returns<\/strong>: Yields are lower compared to equities, corporate bonds, or mutual funds.<\/td><\/tr><tr><td><strong>High Liquidity<\/strong>: Can be easily sold in the secondary market before maturity.<\/td><td><strong>No Regular Income<\/strong>: T-Bills do not provide periodic interest, only lump sum at maturity.<\/td><\/tr><tr><td><strong>Short-Term Maturity<\/strong>: Tenure ranges from 14 days to 364 days, making them ideal for temporary parking of funds.<\/td><td><strong>Inflation Risk<\/strong>: If inflation is higher than the yield, real returns may turn negative.<\/td><\/tr><tr><td><strong>Non-Competitive Bidding<\/strong>: Retail investors can invest without quoting a yield.<\/td><td><strong>Opportunity Cost<\/strong>: Money locked in T-Bills might earn higher returns in other instruments.<\/td><\/tr><tr><td><strong>No TDS Deduction<\/strong>: Makes redemption simple and hassle-free.<\/td><td><strong>Interest Rate Risk<\/strong>: If market rates rise, older T-Bills become less attractive.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Taxation_on_Treasury_Bills\"><\/span>Taxation on Treasury Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Taxation is an important aspect to understand for exam purposes as well as for practical investment decisions. Treasury Bills do not pay regular interest; instead, the return is the difference between the purchase price (discounted value) and the face value (redemption value). This gain is treated as income from capital gains.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Points on Taxation:<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Short Term Capital Gains (STCG):<\/strong><ul><li>Since T-Bills have a maturity of less than one year, the returns are treated as <strong>short-term capital gains<\/strong>.<\/li><li>The tax rate depends on the investor\u2019s income tax slab. For example, if you are in the 20% slab, your gain will be taxed at 20%.<\/li><\/ul><\/li><li><strong>No TDS (Tax Deducted at Source):<\/strong><ul><li>At the time of redemption, no TDS is deducted by the RBI or government.<\/li><li>This is beneficial for small investors, as they do not need to claim refunds.<\/li><\/ul><\/li><li><strong>Taxation for Different Investors:<\/strong><ul><li><strong>Individuals:<\/strong> Gains are added to taxable income and taxed as per slab rate.<\/li><li><strong>Corporates and Banks:<\/strong> Gains are included in business income and taxed accordingly.<\/li><li><strong>Mutual Funds:<\/strong> If mutual funds hold T-Bills, taxation applies at the fund level, and investors are taxed as per the type of scheme.<\/li><\/ul><\/li><li><strong>Example:<\/strong><br>Suppose an investor buys a 91-day T-Bill for \u20b998 (face value \u20b9100). On maturity, he receives \u20b9100.<ul><li>Profit = \u20b92<\/li><li>If he falls under the 30% tax slab, tax = \u20b90.60<\/li><li>Net post-tax return = \u20b91.40<\/li><\/ul><\/li><\/ol>\n\n\n\n<p>Thus, while T-Bills are tax-efficient due to no TDS, investors must calculate their net returns after tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Treasury_Bills_in_India_vs_USA\"><\/span>Treasury Bills in India vs. USA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Treasury bills serve the same purpose in both India and the USA; short-term borrowing by the government. However, they differ in terms of minimum investment, tenure, and issuing authority, which makes it important to understand these distinctions for exams.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Basis<\/strong><\/th><th><strong>Treasury Bills in India<\/strong><\/th><th><strong>Treasury Bills in USA<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Issuer<\/td><td>Government of India through RBI<\/td><td>U.S. Department of Treasury<\/td><\/tr><tr><td>Minimum Investment<\/td><td>\u20b925,000<\/td><td>$100<\/td><\/tr><tr><td>Tenure<\/td><td>14, 91, 182, 364 days<\/td><td>4 to 52 weeks<\/td><\/tr><tr><td>Interest<\/td><td>Zero coupon (issued at discount)<\/td><td>Zero coupon (issued at discount)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/blog\/financial-instruments-and-markets\/\" target=\"_blank\" rel=\"noreferrer noopener\">Also read about Financial Instruments &amp; Markets for LIC AAO<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bank_Exam_Preparation_Practice_%E2%80%93_Treasury_Bills\"><\/span>Bank Exam Preparation Practice \u2013 Treasury Bills<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Practice some questions based on Treasury Bills for upcoming bank exams.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Questions<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li>Treasury Bills are classified under which type of market instrument?<br>a) Capital Market<br>b) Money Market<br>c) Foreign Exchange Market<br>d) Commodity Market<\/li><li>Which of the following is the maximum maturity period of Treasury Bills in India?<br>a) 91 days<br>b) 182 days<br>c) 364 days<br>d) 728 days<\/li><li>Treasury Bills are issued at __________ and redeemed at __________.<br>a) Premium, Face Value<br>b) Discount, Face Value<br>c) Face Value, Premium<br>d) Market Price, Premium<\/li><li>Who issues Treasury Bills in India?<br>a) Ministry of Finance<br>b) RBI on behalf of Government of India<br>c) SEBI<br>d) NABARD<\/li><li>What is the minimum investment amount in Treasury Bills in India?<br>a) \u20b91,000<br>b) \u20b910,000<br>c) \u20b925,000<br>d) \u20b950,000<\/li><li>Treasury Bills are also known as:<br>a) Zero Coupon Securities<br>b) Perpetual Bonds<br>c) Callable Bonds<br>d) Inflation-Indexed Bonds<\/li><li>Which type of investors can participate through the Non-Competitive Bidding route?<br>a) Institutional Investors only<br>b) Retail Investors<br>c) FIIs only<br>d) Corporates only<\/li><li>Returns from Treasury Bills in India are taxable under:<br>a) Exempt category<br>b) Short Term Capital Gains as per income slab<br>c) Long Term Capital Gains<br>d) Dividend Taxation<\/li><li>Which among the following is NOT a maturity period of T-Bills in India?<br>a) 14 days<br>b) 91 days<br>c) 182 days<br>d) 730 days<\/li><li>What is the minimum investment amount for U.S. Treasury Bills?<br>a) $10<br>b) $100<br>c) $500<br>d) $1,000<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Answer Key<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li>b) Money Market<\/li><li>c) 364 days<\/li><li>b) Discount, Face Value<\/li><li>b) RBI on behalf of Government of India<\/li><li>c) \u20b925,000<\/li><li>a) Zero Coupon Securities<\/li><li>b) Retail Investors<\/li><li>b) Short Term Capital Gains as per income slab<\/li><li>d) 730 days<\/li><li>b) $100<\/li><\/ol>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/blog\/important-financial-institutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">Also read about Important Financial Institutions for LIC AAO Exam<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1756811776807\"><strong class=\"schema-faq-question\"><strong>Q1. What are Treasury Bills (T-Bills)?<\/strong><\/strong> <p class=\"schema-faq-answer\">Treasury Bills are short-term money market instruments issued by the government to meet temporary funding needs. They are issued at a discount and redeemed at face value, offering risk-free returns.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756811809041\"><strong class=\"schema-faq-question\"><strong>Q2. What is the minimum investment required in Treasury Bills in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">In India, the minimum investment amount for Treasury Bills is \u20b925,000, and further investments can be made in multiples of \u20b925,000.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756811824355\"><strong class=\"schema-faq-question\"><strong>Q3. How are Treasury Bills taxed in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">The returns from Treasury Bills are considered as short-term capital gains or interest income (depending on treatment) and taxed according to the investor\u2019s income tax slab. Unlike tax-free bonds, T-Bill returns are not exempt from tax.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756811840323\"><strong class=\"schema-faq-question\"><strong>Q4. What are the maturity periods of Treasury Bills in India and the USA?<\/strong><\/strong> <p class=\"schema-faq-answer\">In India, Treasury Bills are available in 14, 91, 182, and 364 days maturities. In the USA, they are issued with maturities ranging from 4 weeks to 52 weeks.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756811859767\"><strong class=\"schema-faq-question\"><strong>Q5. Who can invest in Treasury Bills?<\/strong><\/strong> <p class=\"schema-faq-answer\">Both institutional investors and retail investors can invest in Treasury Bills. Retail investors can participate through the non-competitive bidding route on platforms like RBI Retail Direct or NSE GoBID.<\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/error-spotting\/\">Error Spotting in English Types, Short Tricks, and Tips<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-apprentice-salary\/\">Union Bank Apprentice Salary 2026, Stipend and Job Profile Details<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-syllabus\/\">Union Bank Apprentice Syllabus 2026 &amp; Exam Pattern<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/union-bank-of-india-apprentice-recruitment\/\">Union Bank Apprentice Recruitment 2026, Apply 1865 Posts<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/bank-merger-list\/\">Bank Mergers List in India, 1993 to 2026, Latest Updates<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/www.oliveboard.in\/blog\/nicl-assistant-vs-ibps-po-mains\/\">NICL Assistant Mains vs IBPS PO Mains 2026: Detailed Comparison<\/a><\/li>\n<\/ul>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>For candidates preparing for banking exams like SBI PO, IBPS PO, RBI Grade B, and others, one of the most<\/p>\n","protected":false},"author":60,"featured_media":229464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,31],"tags":[17910],"class_list":["post-226592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-bank-exams","tag-treasury-bills-t-bills","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treasury Bills (T-Bills) Meaning, Features &amp; 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What are Treasury Bills (T-Bills)?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Treasury Bills are short-term money market instruments issued by the government to meet temporary funding needs. They are issued at a discount and redeemed at face value, offering risk-free returns.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811809041","position":2,"url":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811809041","name":"Q2. 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Unlike tax-free bonds, T-Bill returns are not exempt from tax.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811840323","position":4,"url":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811840323","name":"Q4. What are the maturity periods of Treasury Bills in India and the USA?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"In India, Treasury Bills are available in 14, 91, 182, and 364 days maturities. In the USA, they are issued with maturities ranging from 4 weeks to 52 weeks.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811859767","position":5,"url":"https:\/\/www.oliveboard.in\/blog\/treasury-bills\/#faq-question-1756811859767","name":"Q5. Who can invest in Treasury Bills?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Both institutional investors and retail investors can invest in Treasury Bills. Retail investors can participate through the non-competitive bidding route on platforms like RBI Retail Direct or NSE GoBID.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/226592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/comments?post=226592"}],"version-history":[{"count":3,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/226592\/revisions"}],"predecessor-version":[{"id":226601,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/posts\/226592\/revisions\/226601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media\/229464"}],"wp:attachment":[{"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/media?parent=226592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/categories?post=226592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oliveboard.in\/blog\/wp-json\/wp\/v2\/tags?post=226592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}