Document title: Result of Underwriting Auction conducted on July 10, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference: Press Release 2026-2027/640
Date: 10 July 2026
Capital Markets and Flows
The RBI conducted an additional competitive underwriting (ACU) auction on 10 July 2026 for two government securities. For the 6.36 % Government Security maturing in 2031, the notified amount was ₹21,000 crore, with a minimum underwriting commitment of ₹10,500 crore. An additional competitive underwriting amount of ₹10,500 crore was accepted, bringing the total amount underwritten to ₹21,000 crore. The ACU commission cut‑off rate was set at 0.27 paise per ₹100.
For the 7.71 % Government Security maturing in 2066, the notified amount was ₹11,000 crore, with a minimum underwriting commitment of ₹5,502 crore. An additional competitive underwriting amount of ₹5,498 crore was accepted, resulting in a total underwritten amount of ₹11,000 crore. The ACU commission cut‑off rate for this issue was 0.66 paise per ₹100.
Regulatory and Policy Measures
The RBI established the cut‑off rates for underwriting commissions payable to Primary Dealers as part of its market‑stabilisation and debt‑issuance framework. The rates apply to the ACU auction conducted on the same day, and the auction for the sale of the securities is scheduled for 10 July 2026.
The auction results reflect the RBI’s ongoing efforts to manage government debt issuance efficiently and to provide clear pricing guidance to market participants.