Consider the following : I. Market borrowing II. Treasury bills III. Special securities issued to RBI Which of these is/are component(s) of internal debt ?

All three items—market borrowing (market loans/dated securities), Treasury bills, and special securities issued to the Reserve Bank of India—are components of the Central Government’s internal debt. Official sources explicitly list internal debt as including market loans (dated securities), treasury bills and special securities issued to the RBI among other instruments [1]. Further, government debt classifications distinguish marketable internal debt (government dated securities and Treasury Bills) as the principal element of domestic borrowings, confirming that market borrowing and T‑bills form part of internal debt [2]. Therefore I, II and III are components of internal (domestic) debt.

Sources

1. [1] https://www.elibrary.imf.org/downloadpdf/display/book/9781589061941/ch006.pdf
2. [2] http://dea.gov.in/files/public_debt_management_documents/Status%20Paper%20on%20Government%20Debt%20for%20%202023-24.pdf