On February 20, 2026, the Reserve Bank of India conducted an underwriting auction for Additional Competitive Underwriting (ACU) of Government securities, setting cut-off rates for underwriting commission payable to Primary Dealers.
Here's a breakdown:
* **6.03% GS 2029:** Notified Amount: ₹9,000 crore; Minimum Underwriting Commitment (MUC): ₹4,515 crore; Additional Competitive Underwriting Amount Accepted: ₹4,485 crore; Total Amount Underwritten: ₹9,000 crore; ACU Commission Cut-off rate: 0.30 Paise per ₹100.
* **6.68% GS 2033:** Notified Amount: ₹11,000 crore; Minimum Underwriting Commitment (MUC): ₹5,502 crore; Additional Competitive Underwriting Amount Accepted: ₹5,498 crore; Total Amount Underwritten: ₹11,000 crore; ACU Commission Cut-off rate: 0.60 Paise per ₹100.
* **7.24% GS 2055:** Notified Amount: ₹13,000 crore; Minimum Underwriting Commitment (MUC): ₹6,510 crore; Additional Competitive Underwriting Amount Accepted: ₹6,490 crore; Total Amount Underwritten: ₹13,000 crore; ACU Commission Cut-off rate: 1.88 Paise per ₹100.
The auction for the sale of securities will be held on February 20, 2026. For inquiries, contact Ajit Prasad, Deputy General Manager (Communications). The press release number is 2025-2026/2140.
Key Entities Referenced
Reserve Bank of India: Central bank which conducted the underwriting auction.
Underwriting Auction: Auction for Additional Competitive Underwriting (ACU) of Government securities.
Primary Dealers: Entities to whom the underwriting commission is payable.
Mumbai: Location of the Department of Communication, Central Office of RBI.
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
February 20, 2026
Result of Underwriting Auction conducted on February 20, 2026
In the underwriting auction conducted on February 20, 2026, 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
Underwriting Competitive
Total Amount Commission
Nomenclature of Notified Commitment Underwriting
underwritten Cut-off rate
the Security Amount (MUC) Amount
(₹ crore) (Paise per
(₹ crore) Amount Accepted
₹10 0)
(₹ crore) (₹ crore)
6.03% GS 2029 9,000 4,515 4,485 9,000 0.30
6.68% GS 2033 11,000 5,502 5,498 11,000 0.60
7.24% GS 2055 13,000 6,510 6,490 13,000 1.88
Auction for the sale of securities will be held on February 20, 2026.
Ajit Prasad
Press Release: 2025-2026/2140 Deputy General Manager
(Communications)