Document title: Government Stock - Auction Results: Cut-off
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/832
Date: August 07, 2026
Capital Markets and Flows
The Reserve Bank of India released the results of its government securities auction for two issues: GS 2031 with a nominal coupon of 6.36% and GS 2066 with a nominal coupon of 7.71%. The notified amount for GS 2031 was ₹21,000 crore and for GS 2066 was ₹11,000 crore, bringing the total notified amount to ₹32,000 crore.
Both issues were fully subscribed. The cut‑off price for GS 2031 was 99.98, which translates to an implicit yield of 6.3647% at the cut‑off. For GS 2066, the cut‑off price was 101.84, implying an implicit yield of 7.5618% at the cut‑off. The amount accepted in the auction matched the notified amount for each issue, with no devolvement required from primary dealers for either security.
The press release, signed by Deputy General Manager Ajit Prasad of the Communications division, confirms that the auction proceeded without any primary dealer participation in the devolvement process, indicating a smooth execution of the debt issuance program.
This auction outcome reflects the RBI’s ongoing management of government debt issuance and provides market participants with the final pricing and yield levels for the two securities.