On November 14, 2025, the Reserve Bank of India announced the results of an underwriting auction for Additional Competitive Underwriting (ACU) of Government securities. The cut-off rates for underwriting commission payable to Primary Dealers are as follows:
* 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. The Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001 can be contacted at Phone: 022 - 2266 0502. Further information can be found at www.rbi.org.in/hindi and www.rbi.org.in or by emailing helpdoc@rbi.org.in. The Press Release number is 2025-2026/1502. Ajit Prasad, Deputy General Manager (Communications), is the contact person.
Key Entities Referenced
Reserve Bank of India: Central bank of India, responsible for conducting the underwriting auction
Government securities: The securities that are being underwritten in the auction.
Additional Competitive Underwriting (ACU): Type of underwriting for the government securities.
Primary Dealers: Entities to whom the underwriting commission is payable.
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)