On November 14, 2025, the Reserve Bank of India held an underwriting auction for Additional Competitive Underwriting (ACU) of government securities. The cut-off rates for underwriting commission payable to Primary Dealers are:
* 6.68% GS 2040: Notified Amount ₹16,000 crore, Minimum Underwriting Commitment (MUC) Amount ₹8,001 crore, Additional Competitive Underwriting Amount Accepted ₹7,999 crore, Total Amount Underwritten ₹16,000 crore, ACU Commission Cut-off rate 0.70 (Paise per ₹100)
* 6.90% GS 2065: 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 1.18 (Paise per ₹100)
The auction for the sale of securities will be held on November 14, 2025.
Press Release: 2025-2026/1502. Contact Ajit Prasad, Deputy General Manager (Communications). The Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. Phone: 022 - 2266 0502. Website: www.rbi.org.in. Email: helpdoc@rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the underwriting auction.
Additional Competitive Underwriting (ACU): Underwriting auction for government securities
Government securities: Securities that are the subject of 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
November 14, 2025
Result of Underwriting Auction conducted on November 14, 2025
In the underwriting auction conducted on November 14, 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)
6.68% GS 2040 16,000 8,001 7,999 16,000 0.70
6.90% GS 2065 12,000 6,006 5,994 12,000 1.18
Auction for the sale of securities will be held on November 14, 2025.
Ajit Prasad
Press Release: 2025-2026/1502 Deputy General Manager
(Communications)