Document title: Result of Buyback Auction of Government of India Dated Securities
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release: 2026-2027/822
Date: August 06, 2026
Capital Markets and Flows
The RBI notified a total face value of ₹20,000.000 crore of Government of India dated securities for buyback. Participants offered a cumulative face value of ₹10,333.945 crore, of which the RBI accepted ₹5,711.695 crore.
Four distinct securities were auctioned. For the first security, 7 offers totalling ₹3,010.500 crore were received; 2 offers were accepted, resulting in an accepted face value of ₹1,000.000 crore. The cut‑off price was ₹100.45 per ₹100 face value and the weighted average price matched at ₹100.45.
For the second security, 11 offers totalling ₹4,896.750 crore were received; 6 offers were accepted, with an accepted face value of ₹3,360.000 crore. The cut‑off price was ₹100.10 and the weighted average price was ₹100.09.
The third security saw 9 offers amounting to ₹1,342.500 crore; 5 offers were accepted, leading to an accepted face value of ₹447.500 crore. Both the cut‑off and weighted average prices were ₹100.81.
The fourth security had offers amounting to ₹1,084.195 crore; the RBI accepted ₹904.195 crore. The cut‑off price was ₹101.39 and the weighted average price was ₹101.38.
Regulatory and Policy Measures
The buyback auction reflects RBI’s ongoing liquidity management and market‑stabilisation efforts, utilizing the buyback mechanism to absorb excess government securities and influence short‑term interest rates. The close alignment between cut‑off and weighted average prices across all securities indicates a transparent and competitive auction process.
Overall, the RBI’s buyback operation absorbed ₹5.71 trn of government securities, with acceptance rates varying by issue and pricing anchored around the ₹100 per ₹100 face value benchmark.