**Summary:**
On September 4, 2025, the Reserve Bank of India (RBI) conducted an underwriting auction for Additional Competitive Underwriting (ACU) of government securities. The auction results detail the cutoff rates for underwriting commission payable to Primary Dealers.
Specifically, for the 6.28 GS 2032 security, with a notified amount of ₹11,000 crore, the minimum underwriting commitment (MUC) was ₹5,502 crore. The additional competitive underwriting amount was ₹5,498 crore, with a total amount underwritten of ₹11,000 crore. The cutoff rate for the underwriting commission was set at 0.49 paise per crore.
For the 7.09 GS 2074 security, with a notified amount of ₹14,000 crore, the MUC was ₹7,014 crore. The additional competitive underwriting amount was ₹6,986 crore, with a total amount underwritten of ₹14,000 crore. The cutoff rate for the underwriting commission was set at 1.20 paise per crore.
The auction for the sale of these securities will also be held on September 4, 2025.
For further information, contact Ajit Prasad, Deputy General Manager, Communications, at the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001. The contact phone number is 022-2266 0502, and the email address is helpdoc@rbi.org.in. The RBI's website is www.rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Government Securities: Debt instruments issued by the government to finance its expenditures.
Primary Dealers: Financial institutions authorized to directly participate in government securities auctions.
Underwriting Auction: Auction conducted to determine the commission payable to Primary Dealers for underwriting government securities.
Additional Competitive Underwriting (ACU): A mechanism used in underwriting auctions of government securities.
Mumbai, Maharashtra: Financial capital of India, location of the Reserve Bank of India's Central Office.
6.28 GS 2032: Government Security maturing in 2032 with a coupon rate of 6.28%.
7.09 GS 2074: Government Security maturing in 2074 with a coupon rate of 7.09%.
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
September 04, 2025
Result of Underwriting Auction conducted on September 04, 2025
In the underwriting auction conducted on September 04, 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
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)
6.28% GS 2032 11,000 5,502 5,498 11,000 0.49
7.09% GS 2074 14,000 7,014 6,986 14,000 1.20
Auction for the sale of securities will be held on September 04, 2025.
Ajit Prasad
Press Release: 2025-2026/1032 Deputy General Manager
(Communications)