What is the purpose of Treasury bills?

The purpose of treasury bills is to reduce the overall fiscal deficit of the country. The Government of India gives out money market instruments known as treasury bills.You can read about The Reserve Bank of India: Functions and Composition in the given link.

Further readings:

1. Non Performing Assets (NPA) – Facts for UPSC GS-III
2. Topic-Wise GS 3 Questions for UPSC Mains