Document title: Result of Underwriting Auction conducted on July 31, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/784
Date: July 31, 2026
Regulatory and Policy Measures
The Reserve Bank of India has fixed the cut‑off rate for the underwriting commission payable to Primary Dealers at 0.33 paise per ₹100 for the Additional Competitive Underwriting (ACU) of the 6.94 % Government Security maturing in 2036 (GS 2036). This rate applies to the entire underwriting transaction and will determine the remuneration to Primary Dealers for their participation in the auction.
The notified amount for the security is ₹34,000 crore. The Minimum Underwriting Commitment (MUC) required from Primary Dealers is ₹17,010 crore. An additional competitive underwriting amount of ₹16,990 crore has been accepted, bringing the total amount underwritten to the full notified amount of ₹34,000 crore.
The auction for the sale of the security is scheduled to be conducted on the same day, 31 July 2026.
The press release is issued by Deputy General Manager Ajit Prasad, Communications, and is identified as Press Release 2026‑2027/784.
Capital Markets and Flows
The ACU mechanism facilitates the allocation of government securities to Primary Dealers at a predetermined commission rate, ensuring orderly market participation and price stability. The commission cut‑off of 0.33 paise per ₹100 reflects the RBI’s approach to managing primary market liquidity for sovereign debt issuance.
The RBI’s setting of a 0.33 paise ACU commission and full underwriting of the ₹34,000 crore GS 2036 security underscores its active role in sovereign debt market operations and its commitment to maintaining stable primary market conditions.