Thirteen Indian states will raise ₹42,941 crore through government securities auctions on March 27, 2026. The Reserve Bank of India (RBI) has revised the auction schedule, offering both yield-based and price-based issuances across varied maturities, including re-issues of recent bonds.
The Reserve Bank of India announced that multiple states will tap the debt market this Friday, with Andhra Pradesh, Gujarat, Tamil Nadu, Uttar Pradesh, and West Bengal among the largest borrowers. The auction will be conducted via the RBI’s E-Kuber platform, with competitive and non-competitive bids allowed.
Auction Details
The RBI confirmed that the auction will take place on March 27, 2026, with bids accepted electronically. Competitive bids are open between 10:30 AM and 11:30 AM, while non-competitive bids close at 11:00 AM. Results will be announced the same day, with settlement scheduled for March 30, 2026.
Key Highlights
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Total borrowing: ₹42,941 crore across 13 states
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Andhra Pradesh, Haryana, Kerala, Madhya Pradesh, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal feature prominently
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Mix of yield-based and price-based auctions, including re-issues of bonds from 2025–26
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Retail investors can participate via RBI’s Retail Direct portal
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Securities qualify for Statutory Liquidity Ratio (SLR) and ready forward facility
The new issuances will carry interest rates determined at auction, payable semi-annually. Re-issued securities will maintain their original coupon rates.
Sources: Reserve Bank of India Press Release