Document title: RBI Announces ₹29,900 Cr State Securities Auction

Issuing authority: Reserve Bank of India

Reference number: Press Release: 2026-2027/1418 (Communications)

Date: October 30, 2026

Capital Markets and Flows

The Reserve Bank of India (RBI) has announced an auction of State Government Securities (SGS) with a total face value of ₹29,900 crore. The auction will be conducted on the RBI Core Banking Solution (E‑Kuber) system on 3 November 2026 (Tuesday). Competitive bids must be submitted between 10:30 a.m. and 11:30 a.m., while non‑competitive bids are to be submitted between 10:30 a.m. and 11:00 a.m. Results will be announced on the same day, and payment to successful bidders will be made on 4 November 2026 (Wednesday) during banking hours at RBI’s Mumbai office and its regional offices.

The securities offered include re‑issues from the following states and union territories, with the amount to be raised, any greenshoe option, tenor, and auction type as detailed below:

  • Andhra Pradesh: ₹1,000 cr (7.46% SGS 2035, price) and ₹2,000 cr (7.81% SGS 2056, price)
  • Delhi: ₹500 cr (7.57% SGS 2036, price) and another ₹500 cr (yield)
  • Goa: ₹100 cr (7.85% SGS 2034, price)
  • Gujarat: ₹1,000 cr (7.96% SGS 2035, price) with ₹500 cr greenshoe, and ₹1,000 cr (8.06% SGS 2038, price)
  • Karnataka: ₹2,000 cr (7.86% SGS 2034, price)
  • Madhya Pradesh: ₹1,000 cr (7.91% SGS 2036, price), ₹1,000 cr (7.61% SGS 2044, price), and ₹2,000 cr (7.75% SGS 2056, price)
  • Maharashtra: ₹1,500 cr (7.09% SGS 2031, price), ₹1,500 cr (7.63% SGS 2039, price), ₹2,000 cr (8.01% SGS 2043, price), and ₹2,200 cr (7.70% SGS 2049, price)
  • Meghalaya: ₹100 cr (yield)
  • Punjab: ₹500 cr (7.54% SGS 2031, price) and ₹1,000 cr (7.91% SGS 2041, price) with ₹500 cr greenshoe
  • Rajasthan: ₹500 cr (yield) and another ₹500 cr (yield)
  • Telangana: ₹1,500 cr (yield) and another ₹1,500 cr (yield)
  • West Bengal: ₹1,000 cr (7.58% SGS 2035, price), ₹2,000 cr (7.99% SGS 2041, price), and ₹2,000 cr (7.71% SGS 2047, price)

Retail investors may participate under the non‑competitive bidding facility, with the Government able to allocate up to ten per cent of each issue to eligible individuals and institutions, subject to a maximum of one per cent per single bid. Bids can also be placed through the Retail Direct portal (https://rbiretaildirect.org.in). The minimum lot size is ₹10,000, and bids must be expressed to two decimal places for price or yield. An investor may submit multiple competitive bids at different rates, provided the aggregate does not exceed the notified amount for each state.

Regulatory and Policy Measures

The securities will bear interest at rates determined by the RBI at the auction. For newly issued stock, interest will be paid semi‑annually on 4 May and 4 November each year until maturity. Re‑issued stock will continue to pay interest at the rate fixed at the original issue date, also on a half‑yearly basis. The securities are governed by the Government Securities Act, 2006 and the Government Securities Regulations, 2007.

Investments in these State Government Stocks will be eligible as Government Securities for banks’ Statutory Liquidity Ratio (SLR) calculations under Section 24 of the Banking Regulation Act, 1949, and will qualify for the ready‑forward facility.

In case of technical difficulties with the E‑Kuber system, the Core Banking Operations Team can be contacted at cbot@rbi.org.in or phone 022‑69870466 / 022‑69870415. Auction‑related issues may be directed to the IDMD Auction Team (auctionidmd@rbi.org.in, 022‑22702431 / 022‑22705125). If the electronic system fails completely, physical bids may be submitted to the Public Debt Office (bids@rbi.org.in, 022‑22603456 / 022‑22603457 / 022‑22603190) using the prescribed form available on the RBI website.

Ajit Prasad, Deputy General Manager, signed the press release.