Document title: Government Stock - Full Auction Results
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release: 2026-2027/1101
Date: 11 September 2026
Policy Rates and Liquidity
The auction set the following yields: for the 6.20% Government Security (GS) maturing in 2029, the cut‑off price corresponded to a yield to maturity (YTM) of 6.4031% and the weighted average yield (WAY) was also 6.4031%. For the 6.57% GS maturing in 2033, the cut‑off YTM was 6.8703% with a weighted average yield of 6.8573%. For the newly issued GS 2056, the cut‑off YTM was 7.6300% and the weighted average yield was 7.6196%.
Capital Markets and Flows
The RBI notified amounts of ₹11,000 crore each for the 6.20% GS 2029 and the 6.57% GS 2033, and ₹10,000 crore for the new GS 2056. Competitive bids received were 92 bids amounting to ₹23,263.000 crore for GS 2029, 125 bids amounting to ₹26,374.525 crore for GS 2033, and 210 bids amounting to ₹28,604.000 crore for GS 2056, reflecting subscription levels of 99.46%, 98.36% and 100.00% respectively.
Competitive bids accepted comprised 1 bid for GS 2029 (₹4,500.000 crore), 59 bids for GS 2033 (₹10,996.440 crore) and 90 bids for GS 2056 (₹9,959.750 crore). The partial allotment percentages were 0% for GS 2029, 38.6541% for GS 2033 and 15.7013% for GS 2056.
Non‑competitive bids were modest: 4 bids for GS 2029 totaling ₹5.529 crore, 4 bids for GS 2033 totaling ₹3.560 crore and 5 bids for GS 2056 totaling ₹40.250 crore. All non‑competitive bids were accepted in full.
Underwriting was fully satisfied with the notified amounts: ₹11,000 crore each for the two existing securities and ₹10,000 crore for the new issue, all taken up by primary dealers. No devolvement on primary dealers was recorded (NIL). A footnote indicates that a partial amount of ₹4,505.529 crore has been accepted.
The press release is signed by Deputy General Manager Ajit Prasad, Communications, RBI. The auction results demonstrate robust demand for government securities and provide benchmark yields for the market.