Document title: Government Stock - Auction Results: Cut‑off
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release: 2026-2027/1410
Date: October 30, 2026
Capital Markets and Flows
The Reserve Bank of India announced the cut‑off results for its government securities auction conducted on October 30, 2026. Four issues were offered: 6.20% Government Security (GS) maturing in 2029 with a notified amount of ₹9,000 crore, 6.57% GS maturing in 2033 with ₹12,000 crore, 7.63% GS maturing in 2056 with ₹9,000 crore, and 7.50% Government of India (GOI) State Government Bond (SGrB) maturing in 2056 with ₹3,000 crore. The total notified amount across all issues was ₹33,000 crore. All amounts were fully subscribed, with the amount accepted in the auction matching the notified amount for each issue. The cut‑off prices were 97.69 for the 2029 issue, 95.71 for the 2033 issue, 97.51 for the 2056 GS, and 96.23 for the 2056 GOI SGrB. Corresponding implicit yields at the cut‑off were 7.1218%, 7.3818%, 7.8459% and 7.8292% respectively. No devolvement was recorded on primary dealers for any of the issues.
Regulatory and Policy Measures
The press release, signed by Deputy General Manager Ajit Prasad of the RBI’s Communication Department, conveys that the auction proceeded without any need for primary dealer intervention, indicating smooth market functioning. No additional regulatory actions or policy changes were announced in conjunction with the auction results.
The auction demonstrates robust demand for long‑term government securities, with full subscription across all issues and yields reflecting market expectations. The absence of primary dealer devolvement suggests adequate liquidity provision by the RBI during the auction.