RBI reports full auction results for ₹34,000 crore of 6.94% Government Security 2036, with cut-off yield at 7.145% and strong bid coverage.
Auction Results: ₹34,000 Crore 6.94% GS 2036 At 7.145% Yield
The Reserve Bank of India has published the full results of the auction for ₹34,000 crore of the 6.94% Government Security (GS) 2036. The cut-off yield was determined at 7.145%, with a cut-off price of ₹98.58 per ₹100 face value.
A total of 402 bids were received, amounting to ₹83,880 crore, resulting in a bid-to-cover ratio of approximately 2.47, indicating strong investor demand. Competitive bids accepted were for the notified amount of ₹34,000 crore. The auction was conducted through the uniform price method, where all successful bidders receive the security at the cut-off yield.
The successful auction reflects robust appetite for long-term government securities despite elevated yields, likely driven by demand from banks, insurance companies, and provident funds for SLR and long-duration assets. The yield level is in line with secondary market benchmarks and indicates stable investor confidence in fiscal management. The security will settle on the announced date, and it will be tradable on the Negotiated Dealing System (NDS).
