The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹24,800 Crore (Face Value).

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 14, 2026 (Tuesday). The Government Stock up to ten per cent of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions, subject to a maximum limit of one per cent of its notified amount for a single bid per stock as per the ‘Scheme for Non-competitive Bidding Facility’. Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 14, 2026 (Tuesday). The competitive bids should be submitted between 10:30 A.M. and 11:30 A.M. and non-competitive bids should be submitted between 10:30 A.M. and 11:00 A.M.

In case of technical difficulties, Core Banking Operations Team may be contacted (email; Phone no: 022-69870466, 022-69870415).

For other auction related difficulties, IDMD Auction Team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22603456, 022-22603457, 022-22603190) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

The yield per cent per annum or the price as the case may be, expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.

The Reserve Bank of India will determine the maximum yield / minimum price at which bids will be accepted. Stock will be issued for a minimum nominal amount of ₹10,000.00 and in multiples of ₹10,000.00 thereafter.

The results of the auction will be announced on July 14, 2026 (Tuesday) and payment by successful bidders will be made during banking hours on July 15, 2026 (Wednesday) at Mumbai and at respective Regional Offices of RBI.

The new State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new stock, interest will be paid half yearly on January 15 and July 15 of each year till maturity. For the re-issued Government Stock, interest will be paid at the rate as determined on the date of original issue of Government Stock and will be paid on half yearly basis till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and the Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/646

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, issued by Government of India, as amended from time to time. State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis, as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount. Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber system) on Wednesday, July 15, 2026, during the below given timings:

Results will be announced on the day of the auction.

Payment by successful bidders will have to be made on Thursday, July 16, 2026.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22603456, 022-22603457, 022-22603190), before the auction timing ends, in the prescribed form. The form can be downloaded from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx). In case of technical difficulties, Core Banking Operations Team should be contacted at email; Phone no: 022-69870466, 022-69870415. For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/645

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/644

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/643

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/642

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/641

In the underwriting auction conducted on July 10, 2026, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rate for underwriting commission payable to Primary Dealers as given below:

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/640

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Friday, July 10, 2026, as under:

2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/638

The Reserve Bank has today released data on Reserve Money and Money Supply for the fortnight ended on June 30, 2026.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/637