RBI auctioned ₹23,000 crore 7.06% GS 2041 and ₹13,000 crore 7.43% GS 2076 with full acceptance and no devolvement; cut-off yields at 7.3881% and 7.7708% respectively.
RBI Government Securities Auction: Full Subscription, No Devolvement
The Reserve Bank of India has announced full auction results for two government securities: ₹23,000 crore of 7.06% GS 2041 and ₹13,000 crore of 7.43% GS 2076. The competitive bids received were ₹52,879.80 crore and ₹20,751 crore respectively, indicating strong investor appetite.
The cut-off prices were set at ₹97.07 (yield: 7.3881%) and ₹95.70 (yield: 7.7708%). The entire notified amount was accepted, and there was no devolvement on primary dealers—signaling robust market demand and effective price discovery.
These outcomes reflect confidence in government debt instruments amid stable inflation and fiscal discipline. For treasury managers and portfolio investors, the yields serve as benchmarks for pricing private debt and fixed-income products. The absence of devolvement reduces rollover risks for primary dealers.
