Document title: Result of Underwriting Auction conducted on July 24, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/747
Date: July 24, 2026
Capital markets and flows
The Reserve Bank of India (RBI) announced the cut‑off rates for underwriting commissions payable to Primary Dealers in the Additional Competitive Underwriting (ACU) auction held on July 24, 2026. For the newly issued Government Security (GS) maturing in 2041, with a notified amount of ₹17,000 crore, the minimum underwriting commitment (MUC) was ₹8,505 crore and the amount accepted under ACU was ₹8,495 crore, bringing the total amount underwritten to the full ₹17,000 crore. The ACU commission cut‑off rate for this security is set at 0.74 paise per ₹100.
For the 7.43% Government Security maturing in 2076, the notified amount is ₹11,000 crore, the minimum underwriting commitment is ₹5,502 crore and the ACU‑accepted amount is ₹5,498 crore, also resulting in the full ₹11,000 crore being underwritten. The commission cut‑off rate for this issue is 0.98 paise per ₹100.
Overall, the total amount underwritten across both securities equals ₹28,000 crore, and the auction for the sale of these securities is scheduled for July 24, 2026.
Regulatory and policy measures
The RBI communicated these commission rates through Press Release 2026-2027/747, issued by Deputy General Manager Ajit Prasad (Communications). The announcement reflects the RBI’s ongoing management of liquidity and market functioning through the ACU mechanism for government securities.
The RBI’s actions aim to ensure efficient price discovery and adequate primary dealer participation in the government securities market.