Document title: Government Stock - Auction Results: Cut‑off
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/1374
Date: October 23, 2026
Capital markets and flows
The RBI announced the results of the government securities auction for two series. For the 6.53% coupon GS 2031, the notified amount was ₹19,000 crore, which was fully accepted. The cut‑off price was 96.65, corresponding to an implicit yield of 7.3589%. For the 7.71% coupon GS 2066, the notified amount was ₹14,000 crore, also fully accepted, with a cut‑off price of 97.30 and an implicit yield of 7.9339%. No devolvement was made on primary dealers for either series.
Regulatory and policy measures
The auction was conducted under the RBI’s standard auction framework, reflecting its ongoing liquidity management operations in the government securities market. The absence of primary‑dealer devolvement indicates that the auction was fully subscribed by the primary market participants without the need for additional allocation.
The results demonstrate the RBI’s continued use of market‑based mechanisms to manage public debt issuance and liquidity conditions. This content may not be financially relevant.