**Executive Summary**
This press release from the Reserve Bank of India announces an auction of State Government Securities for an aggregate amount of ₹36,500 Crore. The auction will be conducted on February 03, 2026, with results announced the same day. Payment by successful bidders is due on February 04, 2026.
**Key Points / Main Content**
* **Auction Details:**
* Auction date: February 03, 2026 (Tuesday)
* Auction platform: Reserve Bank of India Core Banking Solution (E-Kuber) system
* Aggregate amount: ₹36,500 Crore (Face Value)
* Payment due date: February 04, 2026 (Wednesday)
* **Bidding Process:**
* Competitive bids submission: February 03, 2026, between 10:30 A.M. and 11:30 A.M.
* Non-competitive bids submission: February 03, 2026, between 10:30 A.M. and 11:00 A.M.
* Bids should be in electronic format via E-Kuber.
* Physical bids are accepted only in the event of system failure.
* Bids must be submitted in multiples of ₹10,000.00, with a minimum nominal amount of ₹10,000.00
* **State Government Securities:**
* The auction includes securities from 14 states.
* Some securities are re-issues of existing stocks.
* Tenor (Year) of stock is between 4 to 30 years
* The stocks will qualify for the ready forward facility
* **Additional Information:**
* Up to 10% of each stock will be allotted to eligible individuals and institutions.
* Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).
* Maximum limit of one per cent of its notified amount for a single bid per stock as per the 'Scheme for Non-competitive Bidding Facility'.
**Impact Analysis**
**State Governments**
* **Impact:** Opportunity to raise funds through the sale of State Government Securities.
* **Action Required:** Offer and manage the sale of securities according to the auction terms.
**Banks and Financial Institutions**
* **Impact:** Opportunity to invest in State Government Securities and fulfill Statutory Liquidity Ratio (SLR) requirements.
* **Action Required:** Participate in the auction to acquire securities.
**Individual Investors**
* **Impact:** Opportunity to invest in State Government Securities through competitive and non-competitive bidding processes.
* **Action Required:** Submit bids within the specified timeframe and according to the guidelines provided.
Key Entities Referenced
Reserve Bank of India: Determines maximum yield/minimum price at which bids will be accepted and governs interest rates on State Government Stocks.
State Government Securities: Stocks offered for sale via auction by State Governments.
Banking Regulation Act, 1949 Section 24: Specifies that investments in State Government Stocks are eligible investments for Statutory Liquidity Ratio (SLR).
E-Kuber: Reserve Bank of India's Core Banking Solution system used for competitive and non-competitive bids.
Government Securities Act, 2006: Law that governs the State Government Stocks.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
January 30, 2026
Auction of State Government Securities
The following State Governments have offered to sell stock by way of auction, for an
aggregate amount of ₹36,500 Crore (Face Value).
Additional
Amount
Borrowing
Sr. to Type of
State/UT (Greenshoe) Tenor (Year)
No . be raised Auction
Option
(₹ Crore)
(₹ Crore)
Re-issue of 7.48%
Andhra Pradesh
1000 - Price
SGS 2035, issued
1. Andhra Pradesh
on January 28, 2026
1200 - 13 Yield
1100 - 15 Yield
2. Assam 1000 - 15 Yield
Re-issue of 7.19%
Chhattisgarh SGS
1000 - Price
3. Chhattisgarh 2035, issued on
February 27, 2025
1000 - 16 Yield
4. Gujarat 1000 500 06 Yield
5. Haryana 1000 - 15 Yield
6. Jammu and Kashmir 500 - 17 Yield
Re-issue of 7.15%
Karnataka SGS
2000 - Price
2031, issued on
7. Karnataka
January 28, 2026
2000 - 07 Yield
2000 - 09 Yield
8. Kerala 1000 - 21 Yield
1200 - 07 Yield
9. Madhya Pradesh 2000 - 17 Yield
2000 - 22 Yield
1500 350 04 Yield
10. Maharashtra 1500 350 08 Yield
1500 350 11 Yield
11. Punjab 1000 - 12 Yield
12. Tamil Nadu 1000 - Re-issue of 7.50% Price2
Tamil Nadu SGS
2036, issued on
January 28, 2026
Re-issue of 7.53%
Tamil Nadu SGS
1000 - Price
2037, issued on
January 28, 2026
2000 - 30 Yield
1500 - 10 Yield
13. Uttar Pradesh
1500 - 11 Yield
1500 - 17 Yield
14. West Bengal
1500 - 20 Yield
Total 36500
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-
Kuber) system on February 03, 2026 (Tuesday). The Government Stock up to ten per
cent of the notified amount of the sale of each stock will be allotted to eligible individuals
and institutions, subject to a maximum limit of one per cent of its notified amount for a
single bid per stock as per the ‘Scheme for Non-competitive Bidding Facility’. Individual
investors can also place bids as per the non-competitive scheme through the Retail
Direct portal (https://rbiretaildirect.org.in).
Both competitive and non-competitive bids for the auction should be submitted in
electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system
on February 03, 2026 (Tuesday). The competitive bids should be submitted
between 10:30 A.M. and 11:30 A.M. and non-competitive bids should be submitted
between 10:30 A.M. and 11:00 A.M.
In case of technical difficulties, Core Banking Operations Team may be contacted
(email; Phone no: 022-69870466, 022-69870415).
For other auction related difficulties, IDMD Auction Team can be contacted
(email; Phone no: 022-22702431, 022-22705125).
Only in the event of system failure, physical bids would be accepted. Such physical
bids should be submitted to the Public Debt Office (email; Phone no: 022-22603456, 022-
22603457,022-22603190) in the prescribed form obtainable from RBI website
(https://rbi.org.in/en/web/rbi/forms) before the auction timing ends.
The yield per cent per annum or the price as the case may be, expected by the bidder
should be expressed up to two decimal points. An investor can submit more than one
competitive bid at same/different rates of yield or prices in electronic format on the
Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate
amount of bids submitted by a bidder should not exceed the notified amount for each
State.
The Reserve Bank of India will determine the maximum yield / minimum price at which
bids will be accepted. Stock will be issued for a minimum nominal amount of ₹10,000.00
and in multiples of ₹10,000.00 thereafter.3
The results of the auction will be announced on February 03, 2026 (Tuesday) and
payment by successful bidders will be made during banking hours on February 04, 2026
(Wednesday) at Mumbai and at respective Regional Offices of RBI.
The new State Government Stocks will bear interest at the rates determined by RBI at
the auctions. For the new stock, interest will be paid half yearly on August 04 and
February 04 of each year till maturity. For the re-issued Government Stock, interest will
be paid at the rate as determined on the date of original issue of Government Stock and
will be paid on half yearly basis till maturity. The Stocks will be governed by the
provisions of the Government Securities Act, 2006 and the Government Securities
Regulations, 2007.
The investment in State Government Stocks will be reckoned as an eligible
investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio
(SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for
the ready forward facility.
Ajit Prasad
Press Release: 2025-2026/2026 Deputy General Manager
(Communications)