**Executive Summary**
This press release from the Reserve Bank of India, dated January 9, 2026, announces the auction of State Government Securities for an aggregate amount of ₹26,815 Crore. The auction will be conducted on January 13, 2026, via the RBI's E-Kuber system. Results will be announced the same day, and payment is due January 14, 2026.
**Key Points / Main Content**
* **Auction Details**
* State Governments are offering to sell stock via auction.
* The aggregate amount to be raised is ₹26,815 Crore.
* The auction will be conducted on January 13, 2026 (Tuesday) via the RBI's E-Kuber system.
* Auction results will be announced on January 13, 2026 (Tuesday).
* Payment by successful bidders is due on January 14, 2026 (Wednesday).
* **Bidding Process**
* Both competitive and non-competitive bids must be submitted electronically via E-Kuber on January 13, 2026 (Tuesday).
* Competitive bids: 10:30 A.M. and 11:30 A.M.
* Non-competitive bids: 10:30 A.M. and 11:00 A.M.
* A maximum of 10% of each stock will be allotted to eligible individuals and institutions.
* There is a limit of 1% of the notified amount for a single bid per stock under the 'Scheme for Non-competitive Bidding Facility'.
* Individual investors can bid non-competitively via the Retail Direct portal (https://rbiretaildirect.org.in).
* Physical bids are only accepted in the event of system failure, submitted in a prescribed form before the auction timing ends.
* The minimum bid amount is ₹10,000.00 and in multiples thereof.
* **Securities Details**
* The press release lists state-wise details (Assam, Bihar, Chattisgarh, Haryana, Karnataka, Mizoram, Punjab, Tamil Nadu, Telangana, Uttarakhand, West Bengal) for the amount to be raised in ₹ Crore, the tenor (in years), and the type of auction (Yield or Price).
* Interest on new stock is paid half-yearly on January 14 and July 14.
* Re-issued Government Stock will bear interest at the rate determined on the date of the original issue.
* State Government Stocks qualify for the ready forward facility.
**Impact Analysis**
**State Governments**
* **Impact**: Opportunity to raise funds through the sale of securities.
* **Action Required**: Follow auction guidelines to sell stock successfully.
**Banks**
* **Impact**: Investment in State Government Stocks qualifies as an eligible investment for Statutory Liquidity Ratio (SLR).
* **Action Required**: Consider investing in State Government Stocks to meet SLR requirements.
**Investors (Individuals and Institutions)**
* **Impact**: Opportunity to invest in State Government Securities.
* **Action Required**: Submit bids electronically through the E-Kuber system, adhere to bidding timelines and guidelines, and ensure funds are available for payment by January 14, 2026.
Key Entities Referenced
Reserve Bank of India: The regulator conducting the auction of State Government Securities.
State Governments: The entities offering securities for sale through auction.
E-Kuber: The Reserve Bank of India Core Banking Solution system used for submitting bids.
Scheme for Non-competitive Bidding Facility: A scheme that allows eligible individuals and institutions to participate in the auction.
Government Securities Act, 2006: The act governing the stocks being auctioned.
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 09, 2026
Auction of State Government Securities
The following State Governments have offered to sell stock by way of auction, for an
aggregate amount of ₹26,815 Crore (Face Value)
Sr. State Amount to Tenor (Year) Type of
No . be raised Auction
(₹ Crore)
1. Assam 1000 12 Yield
1500 18 Yield
2. Bihar
1500 25 Yield
1000 10 Yield
3. Chhattisgarh
1000 11 Yield
1000 13 Yield
4. Haryana
1000 17 Yield
2000 06 year and 06 months Yield
Re-issue of 7.16% Karnataka SGS
2000 Price
5. Karnataka 2031, issued on January 07, 2026
Re-issue of 7.51% Karnataka SGS
2000 Price
2036, issued on January 07, 2026
6. Mizoram 115 15 Yield
7. Punjab 2000 05 Yield
1700 10 Yield
Re-issue of 7.50% Tamil Nadu SGS
1000 Price
8. Tamil Nadu 2037, issued on January 07, 2026
Re-issue of 7.58% Tamil Nadu SGS
2000 Price
2056, issued on January 07, 2026
1000 16 Yield
9. Telangana
1000 26 Yield
Re-issue of 6.74% Uttarakhand
10. Uttarakhand 1000 Price
SGS 2035, issued on June 25, 2025
1000 11 Yield
11. West Bengal 1000 16 Yield
1000 20 Yield
Total 26815
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-
Kuber) system on January 13, 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).2
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 January 13, 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.
The results of the auction will be announced on January 13, 2026 (Tuesday) and
payment by successful bidders will be made during banking hours on January 14, 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 July 14 and January
14 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: 2025-2026/1896 Deputy General Manager
(Communications)