Document title: Result of Underwriting Auction conducted on September 04, 2026
Issuing authority: Reserve Bank of India
Reference number: Press Release 2026-2027/1034
Date: September 04, 2026
Policy Rates and Liquidity
The RBI set the cut‑off rates for underwriting commissions payable to primary dealers for the additional competitive underwriting (ACU) of two government securities. The rates are 0.27 paise per ₹100 for the New GS 2031 and 0.62 paise per ₹100 for the 7.71% GS 2066, reflecting the RBI’s liquidity management stance in the market.
Capital Markets and Flows
In the ACU auction held on 4 September 2026, the New GS 2031 with a notified amount of ₹21,000 crore required a minimum underwriting commitment of ₹10,500 crore; the full additional competitive underwriting amount of ₹10,500 crore was accepted, resulting in the entire ₹21,000 crore being underwritten. The 7.71% GS 2066, with a notified amount of ₹11,000 crore, had a minimum underwriting commitment of ₹5,502 crore; an ACU amount of ₹5,498 crore was accepted, bringing total underwriting to the full ₹11,000 crore. The auction proceeds are scheduled for settlement on the same day, 4 September 2026.
Regulatory and Policy Measures
The announcement was issued as Press Release 2026‑2027/1034 by the Deputy General Manager, Ajit Prasad, of the RBI Communications division, underscoring the central bank’s ongoing use of ACU mechanisms to manage government securities issuance and market liquidity.
The RBI’s cut‑off commission rates and full underwriting of the two securities demonstrate active market support and liquidity provision through the ACU framework, with settlement to occur immediately on the auction date.