Document title: Government Stock - Auction Results: Cut-off
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/1186
Date: September 25, 2026
Capital Markets and Flows
The Reserve Bank of India announced the results of the auction of Government Stock (GS) bearing a 6.94% coupon and maturing in 2036. The notified amount for the auction was ₹34,000 crore. The cut‑off price was recorded at 98.58, which corresponds to an implicit yield of 7.1450% at the cut‑off. The full notified amount of ₹34,000 crore was accepted by bidders, and there was no devolvement required from primary dealers.
Regulatory and Policy Measures
The auction outcome was communicated through a press release (2026-2027/1186) issued by Deputy General Manager Ajit Prasad of the RBI Communications division. The release confirms that the auction was conducted in accordance with the RBI’s standard procedures for government securities issuance.
The RBI’s successful auction of the entire ₹34,000 crore, with a clear cut‑off price and no need for primary dealer support, underscores the continued demand for sovereign debt instruments and reflects the effectiveness of the RBI’s market operations.