Document title: State Government Securities - Full Auction Result
Issuing authority: Reserve Bank of India, Department of Communication
Reference: Press Release 2026-2027/1210
Date: 29 September 2026
Capital Markets and Flows
The Reserve Bank of India released the complete results of the state government securities (SGS) auction conducted on 29 September 2026. A total of ₹22,200 crore of notified amounts were offered across 30 separate issues covering 17 states and union territories. The tenors ranged from 7.62 % to 7.98 % and maturities from 2032 to 2056. Competitive bids attracted substantial participation, with the number of competitive bids varying between 1 and 134 per issue and total competitive bid amounts exceeding ₹85,000 crore. Cut‑off yields were confined to a narrow band between 7.64 % and 7.98 %, while weighted‑average yields for individual issues hovered around 7.95 % to 7.99 %. Non‑competitive bids were fully accepted for all issues, contributing roughly ₹1,200 crore to the total allotment. Notably, the 10‑year Tamil Nadu SGS 2041 received no allotment despite being issued on 5 August 2026. Overall, the auction demonstrated robust demand for state debt and reinforced the RBI’s role in facilitating state financing through the secondary market.
The results indicate continued investor appetite for Indian state securities at yields marginally below prevailing market rates, supporting the government’s borrowing programme.