The RBI yield price auction results for state government securities have been released on June 16, 2026. This applies to several Indian states and union territories aiming to raise funds through re-issued securities with varied tenors and cut-off yields. The auction saw a total amount accepted of ₹20,461.29 crore against ₹21,600 crore offered, providing investors and market participants with updated yield and price details.
Quick Summary
- RBI conducted a yield/price-based auction for state government securities on June 16, 2026.
- Nine states participated, with a total of ₹21,600 crore offered and ₹20,461.29 crore accepted.
- Cut-off yields ranged from 7.28% to 7.81% with tenors from 6 to 12 years.
- Partial acceptance reported for Punjab’s 7-year and Uttarakhand’s 9-year securities; Gujarat rejected 12-year security.
What SEBI announced
The Reserve Bank of India (RBI) announced the results of the yield and price based auction of State Government Securities (SGS) held on June 16, 2026. The auction involved multiple tenors ranging from 6 to 12 years across various states and union territories.
Who is affected
State governments and union territories who participated in the auction are directly affected, as the auction determines their borrowing costs and amounts raised. Investors and market participants in the fixed income securities markets are also affected, as the auction results inform prevailing yields and prices for these SGS instruments.
What changes for investors, intermediaries or market participants
The auction results provide updated cut-off yields for state government securities for multiple tenors, influencing investment decisions and portfolio valuations. For example, Andhra Pradesh re-issued securities at yields ranging from 7.28% to 7.81%, while Maharashtra’s accepted yields ranged between 7.44% and 7.78%. Gujarat did not accept any bids for the 12-year security, indicating investor caution or pricing issues. Partial acceptance was noted for Punjab’s 7-year security and Uttarakhand’s 9-year security, showing possible demand-supply mismatch or price sensitivity.
Compliance or operational impact
Primary dealers and intermediaries involved in the allotment and settlement of state government securities must process the accepted amounts as per the RBI’s auction result. Market participants should ensure compliance with the cut-off prices and yields disclosed for re-issued securities and factor these in their trading and risk management practices.
State-wise auction amounts, acceptance, prices, yields, and tenors of State Government Securities
| State/UT | Amount to be raised (₹ Crore) | Amount Accepted (₹ Crore) | Cut off Price (₹) / Yield (%) | Tenor (Years) |
|---|---|---|---|---|
| Andhra Pradesh | 1000 + 1800 + 1800 | 1000 + 1800 + 1800 | 7.28 / – , 99.81 / 7.8094, 100.05 / 7.8043 | 6, 43, 1800* |
| Assam | 1000 | 1000 | 7.66 | 10 |
| Gujarat | 1000 | 1000 / 0 for 12-year | 7.39 / – | 8, 12 |
| Jammu and Kashmir | 500 | 500 | 100.06 / 7.8043 | Re-issue 7.81% SGS 2051 |
| Maharashtra | 1600 + 1600 + 800 | 1600 + 1600 + 800 | 100.63 / 7.4401, 100.18 / 7.7496, 100.10 / 7.7798 | 2034, 2044, 2054 |
| Punjab | 1000 + 1000 + 1000 | 934.159 + 1000 + 1000 | 7.55 (partial), 100.80 / 7.8171, 100.96 / 7.8185 | 7, 2041, 2044 |
| Rajasthan | 1200 + 1800 + 1000 | 1200 + 1800 + 1000 | 7.57, 100.62 / 7.7979, 100.01 / 7.8076 | 9, 2041, 2049 |
| Telangana | 750 + 500 + 750 | 750 + 500 + 750 | 100.52 / 7.4390, 100.43 / 7.6389, 100.24 / 7.7950 | 2033, 2037, 2047 |
| Uttarakhand | 500 | 427.131 | 7.62 | 9 |
Key date or circular/order detail
The auction results were published by the RBI on June 16, 2026. The details including accepted amounts, cut-off prices, and yields for each participating state are available in the official RBI announcement released the same day.
What investors should know
Investors should note the variety of yields and tenors from the auction, signalling the market price of state government credit risk and liquidity conditions as of mid-June 2026. Particular attention is needed where partial acceptance or no acceptance occurred, such as Punjab’s partial acceptance in the 7-year security or Gujarat’s rejection of the 12-year security, indicating demand dynamics at these maturities. Investors should consult their financial advisors and verify auction details from official RBI sources before trading or subscribing to SGS.
Frequently Asked Questions
What is the total amount accepted in the RBI state government securities auction?
The total amount accepted across all states and tenors in the auction held on June 16, 2026, is ₹20,461.29 crore.
Which states accepted partial amounts in the auction?
Punjab accepted a partial amount of ₹934.159 crore for the 7-year security, and Uttarakhand accepted ₹427.131 crore of the ₹500 crore offered for its 9-year security.
Did all states accept the full amounts offered in the auction?
No. Gujarat did not accept any amount for the 12-year security, and Punjab and Uttarakhand accepted partial amounts in some tenors.
What is the range of yields for the securities re-issued in this auction?
Yields ranged from 7.28% (Andhra Pradesh’s 6-year security) up to approximately 7.81% on various reissues across states.
Where can I find the official details and circular for this auction result?
The official auction results were published by RBI on June 16, 2026. For detailed rules, eligibility, and compliance, please refer to the official RBI announcement dated June 16, 2026.
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Source note: This article is based on RBI announcement dated June 16, 2026. Readers should refer to the official source for detailed rules, eligibility, deadlines or compliance requirements. View original source.
