Document title: Government Stock Auction Results: Cut‑off
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release: 2026-2027/1230
Date: October 01, 2026
Capital Markets and Flows
The Reserve Bank of India released the cut‑off results of its government securities auction conducted on 1 October 2026. Four issues were offered: 6.20% Government Security (GS) maturing in 2029, 6.57% GS maturing in 2033, 7.63% GS maturing in 2056, and a 7.50% Government of India Savings Bond (SGrB) maturing in 2056. The notified amounts were ₹9,000 crore for each of the 2029 GS, 2056 GS and the 2056 SGrB, and ₹12,000 crore for the 2033 GS, totaling ₹33,000 crore.
The cut‑off price for the 2029 GS was ₹98.53, implying an implicit yield of 6.7688%; for the 2033 GS the cut‑off price was ₹96.79 with a yield of 7.1680%; for the 2056 GS the cut‑off price was ₹99.30 with a yield of 7.6895%; and for the 2056 SGrB the cut‑off price was ₹98.20 with a yield of 7.6539%. All notified amounts were fully accepted in the auction, matching the notified quantities. No devolvement was required from primary dealers for any of the securities, indicating that the auction was completely subscribed without the need for additional allocation.
In conclusion, the RBI’s auction achieved full subscription across all four government securities, delivering yields in the range of 6.77% to 7.69% and requiring no primary‑dealer devolvement, thereby reflecting strong investor demand for sovereign debt instruments.