Document title: Government Stock - Auction Results: Cut-off
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/600
Date: July 03, 2026
Capital Markets and Flows
The Reserve Bank of India announced the results of the Government Stock auction for securities maturing in 2036. The notified amount for the auction was ₹34,000 crore, and the entire amount was accepted. The cut‑off price was fixed at 101.50 rupees per unit, which corresponds to an implicit yield of 6.7275% at the cut‑off level. No devolvement was required from primary dealers, indicating that the auction was fully subscribed without the need for additional allocation.
Regulatory and Policy Measures
The auction was conducted under the existing framework for government securities issuance, and the absence of devolvement on primary dealers reflects adequate market participation and liquidity.
The results demonstrate a robust demand for long‑term government securities, with the full ₹34,000 crore subscribed at a price marginally above par, yielding 6.7275%. This outcome provides the government with the intended financing while maintaining market stability.