RBI Announces Auction of State Government Securities Worth Rs 15,964 Crore

New Delhi: The Reserve Bank of India (RBI) has announced an auction of State Government Securities (SGS) with an aggregate amount of Rs 15,964 crore (face value). The auction, scheduled for December 9, 2025, will include new and re-issued stocks from several states.

States Participating and Tenor:

• Arunachal Pradesh: Rs 375 crore, 20 years (Yield)

• Bihar: Rs 1,500 crore, 12 years (Yield)

• Gujarat: Rs 1,000 crore, 8 years (Yield)

• Haryana: Rs 2,000 crore in two tranches, 16 and 17 years (Yield)

• Jammu & Kashmir: Rs 500 crore, 12 years (Yield)

• Maharashtra: Rs 3,000 crore (10 & 20 years Yield, plus 2034 re-issue)

• Meghalaya: Rs 484 crore, 9 years (Yield)

• Mizoram: Rs 105 crore, 13 years (Yield)

• Tamil Nadu: Rs 4,000 crore in four re-issues (2032, 2033, 2035, 2036)

• Uttar Pradesh: Rs 2,000 crore including 2039 & 2040 re-issues

Auction Details:
The auction will be conducted electronically via RBI’s Core Banking Solution (E-Kuber). Competitive bids can be submitted between 10:30–11:30 AM, while non-competitive bids can be placed between 10:30–11:00 AM on December 9, 2025. Investors can participate through the E-Kuber system or the Retail Direct portal for non-competitive bids.

Eligible individual investors and institutions can apply for up to 10% of each stock, with a maximum of 1% per bid. The minimum subscription amount is Rs 10,000, in multiples of Rs 10,000 thereafter.

Payment and Interest:
Successful bidders must make payments on December 10, 2025. New SGS will carry interest rates determined at the auction and will pay interest semi-annually on June 10 and December 10. Re-issued stocks will pay interest at the original issue rate until maturity.

Additional Information:
Investments in SGS qualify as statutory liquidity ratio (SLR) eligible securities for banks and can be used in ready forward transactions. Detailed forms and guidance are available on the RBI website: RBI Forms.

For any technical or auction-related assistance, contact RBI’s Core Banking Operations Team or IDMD Auction Team.