On December 26, 2025, the Reserve Bank of India conducted an underwriting auction for Additional Competitive Underwriting (ACU) of government securities. The cut-off rates for underwriting commission payable to Primary Dealers were set as follows:
* 5.91% GS 2028: Notified amount ₹9,000 crore, Minimum Underwriting Commitment (MUC) amount ₹4,515 crore, Additional Competitive Underwriting Amount Accepted ₹4,485 crore, Total Amount Underwritten ₹9,000 crore, ACU Commission Cut-off rate 0.19 (Paise per ₹100).
* 6.28% GS 2032: Notified amount ₹11,000 crore, Minimum Underwriting Commitment (MUC) amount ₹5,502 crore, Additional Competitive Underwriting Amount Accepted ₹5,498 crore, Total Amount Underwritten ₹11,000 crore, ACU Commission Cut-off rate 0.34 (Paise per ₹100).
* 7.24% GS 2055: Notified amount ₹12,000 crore, Minimum Underwriting Commitment (MUC) amount ₹6,006 crore, Additional Competitive Underwriting Amount Accepted ₹5,994 crore, Total Amount Underwritten ₹12,000 crore, ACU Commission Cut-off rate 1.10 (Paise per ₹100).
The auction for the sale of securities will be held on December 26, 2025. For communication, contact Ajit Prasad, Deputy General Manager (Communications). Press Release: 2025-2026/1772. The RBI website is www.rbi.org.in. The email is helpdoc@rbi.org.in. Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001 Phone: 022 - 2266 0502
Key Entities Referenced
Reserve Bank of India: Sets cut-off rates for Additional Competitive Underwriting (ACU) of Government securities.
Underwriting Auction: Auction conducted on December 26, 2025, for Additional Competitive Underwriting (ACU) of Government securities.
Government securities: Securities being auctioned for Additional Competitive Underwriting.
Mumbai: Location of the Reserve Bank of India's Central Office
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)