RBI Announces ₹35,900 Cr State Securities Auction

Document title: Auction of State Government Securities

Issuing authority: Reserve Bank of India (Department of Communication)

Reference number: Press Release 2026-2027/1093

Date: September 10, 2026

Capital Markets and Flows

The Reserve Bank of India (RBI) announced an auction of State Government Securities (SGS) with a total face value of ₹35,900 crore. The auction will be conducted on the RBI Core Banking Solution (E‑Kuber) system on September 15, 2026 (Tuesday). The securities offered by 16 States/UTs are detailed below:

| Arunachal Pradesh | 600 | 20 | Yield | – |

| | 700 | 15 | Yield | – |

| | 1,000 | – | Price | Re‑issue of 7.71% Bihar SGS 2044, issued 22‑Jul‑2026 |

| Chhattisgarh | 500 | 12 | Yield | – |

| | 500 | 21 | Yield | – |

| | 300 | – | Price | Re‑issue of 7.75% Delhi SGS 2041, issued 24‑Jun‑2026 |

| Goa | 100 | 11 | Yield | – |

| Haryana | 1,000 | 14 | Yield | – |

| | 2,000 | 26 | Yield | – |

| Kerala | 1,000 | 18 | Yield | – |

| | 1,200 | 25 | Yield | – |

| | 900 | – | Price | Re‑issue of 7.58% MP SGS 2038, issued 22‑Jul‑2026 |

| | 900 | – | Price | Re‑issue of 7.66% MP SGS 2048, issued 19‑Aug‑2026 |

| Mizoram | 100 | 15 | Yield | – |

| | 1,000 | – | Price | Re‑issue of 7.70% Odisha SGS 2044, issued 22‑Jul‑2026 |

| | 2,000 | – | Price | Re‑issue of 7.62% TN SGS 2041, issued 5‑Aug‑2026 |

| | 2,000 | – | Price | Re‑issue of 7.70% TN SGS 2051, issued 5‑Aug‑2026 |

| | 1,600 | – | Price | Re‑issue of 7.82% UP SGS 2046, issued 10‑Jun‑2026 |

| | 300 | – | Price | Re‑issue of 7.70% Uttarakhand SGS 2048, issued 22‑Jul‑2026 |

| | 2,200 | – | Price | Re‑issue of 7.71% WB SGS 2047, issued 22‑Jul‑2026 |

| Total | 35,900 | – | – | – |

Bidding Procedure

Both competitive and non‑competitive bids must be submitted electronically on the E‑Kuber system on September 15, 2026. Competitive bids are accepted between 10:30 A.M. and 11:30 A.M., while non‑competitive bids must be entered between 10:30 A.M. and 11:00 A.M.. Bids must specify the expected yield (per cent per annum) or price to two decimal places. A bidder may submit multiple competitive bids at different rates, but the aggregate amount for each state may not exceed the notified amount. The RBI will determine the maximum yield/minimum price at which bids are accepted. Securities will be issued in a minimum nominal amount of ₹10,000 and in multiples thereof.

For technical assistance, the Core Banking Operations Team can be contacted at cbot@rbi.org.in or phones 022‑69870466, 022‑69870415. Auction‑related queries may be directed to the IDMD Auction Team at auctionidmd@rbi.org.in or phones 022‑22702431, 022‑22705125. In the event of a system failure, physical bids may be submitted to the Public Debt Office at bids@rbi.org.in or phones 022‑22603456, 022‑22603457, 022‑22603190 using the prescribed form available on the RBI website.

Settlement and Payment

The auction results will be announced on September 15, 2026 (Tuesday). Successful bidders must make payment during banking hours on September 16, 2026 (Wednesday) at RBI’s Mumbai office and at the respective Regional Offices.

Interest and Coupon Payments

Newly issued State Government Stocks will bear interest at rates determined by the RBI at the auction and will pay coupons half‑yearly on March 16 and September 16 of each year until maturity. Re‑issued stocks will continue to pay interest at the rate fixed on their original issue date, also on a half‑yearly basis.

Regulatory Framework and Eligibility

The securities are governed by the Government Securities Act, 2006 and the Government Securities Regulations, 2007. Investment in these State Government Stocks will be counted as eligible Government Securities for banks’ Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. Additionally, the stocks qualify for the ready‑forward facility.

The press release is identified as 2026‑2027/1093, issued by Deputy General Manager Ajit Prasad (Communications).