RBI Announces Underwriting Auction Results for ₹33,000 Crore Government Securities
Cut-off rates set for underwriting commission on three government securities totaling ₹33,000 crore
Mumbai, February 20, 2026: The Reserve Bank of India (RBI) has announced the results of the Additional Competitive Underwriting (ACU) auction conducted on February 20, 2026, for three government securities with a total notified amount of ₹33,000 crore.
Auction Results Summary:
| Security | Notified Amount (₹ crore) | Total Amount Underwritten (₹ crore) | ACU Commission Cut-off Rate (Paise per ₹100) |
|---|---|---|---|
| 6.03% GS 2029 | 9,000 | 9,000 | 0.30 |
| 6.68% GS 2033 | 11,000 | 11,000 | 0.60 |
| 7.24% GS 2055 | 13,000 | 13,000 | 1.88 |
Key Details:
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6.03% Government Security 2029: Notified amount of ₹9,000 crore with Minimum Underwriting Commitment (MUC) of ₹4,515 crore. Additional Competitive Underwriting amount accepted stood at ₹4,485 crore, taking total underwritten amount to ₹9,000 crore. The cut-off rate for underwriting commission was set at 0.30 paise per ₹100.
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6.68% Government Security 2033: Notified amount of ₹11,000 crore with MUC of ₹5,502 crore. Additional underwriting of ₹5,498 crore was accepted, resulting in total underwriting of ₹11,000 crore. Commission cut-off rate fixed at 0.60 paise per ₹100.
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7.24% Government Security 2055: Notified amount of ₹13,000 crore with MUC of ₹6,510 crore. The additional underwriting amount accepted stood at ₹6,490 crore, achieving full underwriting of ₹13,000 crore. The cut-off rate for commission was set at 1.88 paise per ₹100.
The underwriting auction was conducted to facilitate the sale of these government securities, with the main auction scheduled to be held on February 20, 2026.
Primary Dealers participated in the auction, with the RBI setting the cut-off rates for underwriting commission payable to them. The full underwriting of all three securities indicates strong market participation and confidence in the government securities market.
The results were announced by Ajit Prasad, Deputy General Manager (Communications), RBI, through a press release dated February 20, 2026.