The Reserve Bank of India (RBI) has announced the results of the underwriting auction conducted on December 26, 2025, for Additional Competitive Underwriting (ACU) of government securities. The cut-off rates for underwriting commission payable to Primary Dealers have been set as follows: For 5.91% GS 2028, the notified amount is ₹9,000 crore, the minimum underwriting commitment (MUC) amount is ₹4,515 crore, the additional competitive underwriting amount accepted is ₹4,485 crore, the total amount underwritten is ₹9,000 crore, and the ACU commission cut-off rate is 0.19 paise per ₹100. For 6.28% GS 2032, the notified amount is ₹11,000 crore, the MUC amount is ₹5,502 crore, the additional competitive underwriting amount accepted is ₹5,498 crore, the total amount underwritten is ₹11,000 crore, and the ACU commission cut-off rate is 0.34 paise per ₹100. For 7.24% GS 2055, the notified amount is ₹12,000 crore, the MUC amount is ₹6,006 crore, the additional competitive underwriting amount accepted is ₹5,994 crore, the total amount underwritten is ₹12,000 crore, and the ACU commission cut-off rate is 1.10 paise per ₹100. The auction for the sale of securities will be held on December 26, 2025. For inquiries, contact Ajit Prasad, Deputy General Manager (Communications). Press Release: 2025-2026/1772. The RBI's website is www.rbi.org.in and the email is helpdoc@rbi.org.in. The phone number is 022 - 2266 0502.
Key Entities Referenced
Reserve Bank of India: Sets cut-off rates for underwriting commission payable to Primary Dealers for Government securities.
Underwriting Auction: Auction conducted for Additional Competitive Underwriting (ACU) of Government securities.
Government Securities: The securities being auctioned in the Underwriting Auction.
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
December 26, 2025
Result of Underwriting Auction conducted on December 26, 2025
In the underwriting auction conducted on December 26, 2025, for Additional Competitive
Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set
the cut-off rates for underwriting commission payable to Primary Dealers as given below:
Minimum
Additional ACU
Underwritin
Competitive Commissio
g Total Amount
Nomenclature of Notified Underwriting n Cut-off
Commitmen underwritten
the Security Amount Amount rate
t (MUC) (₹crore)
(₹crore) Accepted (Paise per
Amount
(₹crore) ₹10 0)
(₹crore)
5.91% GS 2028 9,000 4,515 4,485 9,000 0.19
6.28% GS 2032 11,000 5,502 5,498 11,000 0.34
7.24% GS 2055 12,000 6,006 5,994 12,000 1.10
Auction for the sale of securities will be held on December 26, 2025.
Ajit Prasad
Press Release: 2025-2026/1772 Deputy General Manager
(Communications)