About T-bills

• Treasury bills or T-bills are money market instruments. They are short term debt instruments issued by the Government of India. 
• In India, the central government issues both treasury bills and bonds or dated securities, while state governments issue only bonds or dated securities, which are called the state development loans.
• Treasury bills are zero coupon securities and pay no interest. Instead, they are issued at a discount and redeemed at the face value at maturity. 
• For example, a 91 day Treasury bill of  Rs 100 (face value) may be issued at say Rs 98.20, that is, at a discount of say, Rs 1.80 and would be redeemed at the face value of Rs 100. The return to the investors is the difference between the maturity value or the face value (Rs 100) and the issue price. 
• As the risk on T-bills is zero, the return to the investors will be very less.

Why in News?

• The Government of India, in consultation with the Reserve Bank of India, has notified the calendar for issuance of Treasury Bills for the quarter ending March 2024.

https://pib.gov.in/PressReleasePage.aspx?PRID=1991579