State Securities Auction ₹16,900 Crore Accepted

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State Securities Auction ₹16,900 Crore Accepted

RBI Press Releases

Published April 21st, 2026

Detected April 22nd, 2026

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Summary

The Reserve Bank of India conducted a yield/price based auction of state government securities on April 21, 2026, accepting the entire offered amount of ₹16,900 crore. Five states participated — Andhra Pradesh, Maharashtra, Punjab, Rajasthan, and Telangana — across multiple tenors ranging from 7 to 30 years. Cutoff yields ranged from 7.54% (Telangana 7-year) to 7.84% (Punjab 12-year), with one re-issue of Rajasthan SGS 2041 accepted at a price of ₹101.47.

Published by RBI on rbi.org.in . Detected, standardized, and enriched by GovPing. Review our methodology and editorial standards .

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What changed

The Reserve Bank of India published results of a state government securities auction in which the entire offered amount of ₹16,900 crore was accepted. Fourteen separate securities across five states (Andhra Pradesh, Maharashtra, Punjab, Rajasthan, and Telangana) were accepted at cutoff yields between 7.54% and 7.84%, with tenors spanning 7 to 30 years. One re-issue of Rajasthan's 7.99% SGS 2041 was also accepted.

State governments that participated in the auction received full subscription, establishing benchmark borrowing rates for respective tenors. Primary dealers and institutional investors in the Indian government securities market should monitor these cutoff yields as reference rates for pricing decisions on future state government borrowings.

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Apr 22, 2026

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Press Releases

| () |
| Date : Apr 21, 2026 |
| Result of Yield/Price Based Auction of State Government Securities |
| | Sr. No | State | Amount to be raised
(₹ Crore) | Amount Accepted
(₹ Crore) | Cut off Price
(₹)/Yield (%) | Tenor
(Year) |
| 1. | Andhra Pradesh | 1800 | 1800 | 7.63 | 08 |
| 1800 | 1800 | 7.79 | 16 |
| 1000 | 1000 | 7.81 | 30 |
| 2. | Maharashtra | 1600 | 1600 | 7.55 | 08 |
| 1600 | 1600 | 7.77 | 18 |
| 800 | 800 | 7.79 | 28 |
| 3. | Punjab | 1300 | 1300 | 7.84 | 12 |
| 4. | Rajasthan | 1200 | 1200 | 7.64 | 10 |
| 1800 | 1800 | 101.47/7.8205 | Re-issue of 7.99% Rajasthan SGS 2041, issued on March 30, 2026 |
| 1000 | 1000 | 7.81 | 23 |
| 5. | Telangana | 1000 | 1000 | 7.54 | 07 |
| 1000 | 1000 | 7.70 | 11 |
| 1000 | 1000 | 7.82 | 21 |
| | Total | 16900 | 16900 |
Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2026-2027/114 | Sr. No | State | Amount to be raised
(₹ Crore) | Amount Accepted
(₹ Crore) | Cut off Price
(₹)/Yield (%) | Tenor
(Year) | 1. | Andhra Pradesh | 1800 | 1800 | 7.63 | 08 | 1800 | 1800 | 7.79 | 16 | 1000 | 1000 | 7.81 | 30 | 2. | Maharashtra | 1600 | 1600 | 7.55 | 08 | 1600 | 1600 | 7.77 | 18 | 800 | 800 | 7.79 | 28 | 3. | Punjab | 1300 | 1300 | 7.84 | 12 | 4. | Rajasthan | 1200 | 1200 | 7.64 | 10 | 1800 | 1800 | 101.47/7.8205 | Re-issue of 7.99% Rajasthan SGS 2041, issued on March 30, 2026 | 1000 | 1000 | 7.81 | 23 | 5. | Telangana | 1000 | 1000 | 7.54 | 07 | 1000 | 1000 | 7.70 | 11 | 1000 | 1000 | 7.82 | 21 | | Total | 16900 | 16900 |
| Sr. No | State | Amount to be raised
(₹ Crore) | Amount Accepted
(₹ Crore) | Cut off Price
(₹)/Yield (%) | Tenor
(Year) |
| 1800 | 1800 | 7.79 | 16 |
| 1000 | 1000 | 7.81 | 30 |
| 2. | Maharashtra | 1600 | 1600 | 7.55 | 08 |
| 1600 | 1600 | 7.77 | 18 |
| 800 | 800 | 7.79 | 28 |
| 3. | Punjab | 1300 | 1300 | 7.84 | 12 |
| 4. | Rajasthan | 1200 | 1200 | 7.64 | 10 |
| 1000 | 1000 | 7.81 | 23 |
| 5. | Telangana | 1000 | 1000 | 7.54 | 07 |
| 1000 | 1000 | 7.70 | 11 |
| 1000 | 1000 | 7.82 | 21 |
| | Total | 16900 | 16900 |

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Banking & Finance

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Last updated

April 22, 2026

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RBI

Published

April 21st, 2026

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Notice

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Executive

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Non-binding

Stage

Final

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Banks Government agencies

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5221 Commercial Banking

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Government securities auction State borrowing

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IN IN

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Securities

Operational domain

Finance

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Banking

State Securities Auction ₹16,900 Crore Accepted

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Press Releases

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