**Executive Summary**
This press release details the results of the yield/price-based auction of State Government Securities held on March 02, 2026. The auction involved various states raising funds through the issuance of securities with different tenors. Key deadlines or specific action items for stakeholders are not explicitly mentioned in this document, which focuses on reporting the auction outcomes.
**Key Points / Main Content**
* **Auction Results:**
* The Reserve Bank of India conducted an auction for State Government Securities.
* The auction resulted in the issuance of securities across multiple states, including Assam, Chhattisgarh, Gujarat, Himachal Pradesh, Jammu and Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal.
* Various tenors were offered, ranging from 6 years and 6 months to 30 years.
* The amounts raised and accepted varied by state and tenor, with specific cut-off prices and yields indicated.
* **Additional Issuances:**
* Gujarat accepted an additional ₹500 crore in the 10-year security.
* Maharashtra accepted an additional ₹350 crore each in the 8-year security and the re-issue of the 7.43% Maharashtra SGS 2040.
* Specific re-issues were conducted for Karnataka, Madhya Pradesh, Tamil Nadu, Uttar Pradesh, and West Bengal, with their respective securities, issue dates, and tenor details noted.
* **Total Figures:**
* The total amount to be raised across all states was ₹43,130 crore.
* The total amount accepted was ₹44,330 crore.
**Impact Analysis**
**State Governments**
* **Impact:** State governments have successfully raised funds through the issuance of securities, with the amounts raised and the cost of borrowing (yield) determined by the auction. Some states have raised additional amounts beyond their initial target.
* **Action Required:** States will need to manage the issued debt according to the terms and conditions of the securities.
**Investors**
* **Impact:** Investors have acquired State Government Securities with varying tenors and yields. They will receive interest payments as per the terms of the securities.
* **Action Required:** Investors need to review the auction results to understand their holdings and manage their investment portfolios accordingly.
**Reserve Bank of India (RBI)**
* **Impact:** The RBI has facilitated the fundraising for state governments and managed the auction process.
* **Action Required:** The RBI will continue to manage the liquidity in the market and oversee the functioning of the government securities market.
Key Entities Referenced
Reserve Bank of India: The central bank responsible for issuing this press release and conducting the auction of State Government Securities.
State Government Securities (SGS): The financial instruments whose auction results are detailed in the document. These are issued by various state governments.
Karnataka SGS 2036: A specific State Government Security being re-issued, indicating ongoing debt management and financial instruments.
Madhya Pradesh SGS 2049: A specific State Government Security being re-issued, indicating ongoing debt management and financial instruments.
Maharashtra SGS 2040: A specific State Government Security being re-issued, indicating ongoing debt management and financial instruments.