- Treasury bills (T-bills) are short-term debt instruments.
- They are issued by the Government of India.
- Their maturity is less than one year.
- T-bills are zero coupon securities, meaning they pay no interest.
- Instead, they are issued at a discount and redeemed at face value.
- They are used by the government for short-term borrowing needs.
- T-bills are traded in the money market.