The Reserve Bank of India has announced that several state governments will raise a total of Rs 45,960 crore through the auction to be held on March 10, 2026. This amount will be raised through auction of State Government Securities (SGS). It will be conducted on the e-Kuber platform of RBI. According to RBI, securities of different tenures will be issued by different states and union territories in this auction. These will include new securities as well as re-issue of previously issued bonds.
Which states are being included?
- Andhra Pradesh plans to raise Rs 3,000 crore through three securities with tenors of 13, 15 and 17 years.
- Arunachal Pradesh will raise Rs 190 crore with a tenure of 20 years.
- Assam will borrow Rs 900 crore through a 15-year security.
- Delhi will raise Rs 1,000 crore through 10-year securities.
- Gujarat intends to raise Rs 2,000 crore through two securities of tenor seven years six months and eleven years, with an option to borrow additional Rs 500 crore each.
- Haryana will issue securities worth Rs 3,000 crore over a period of four, twelve and eighteen years.
- Jammu and Kashmir will borrow Rs 900 crore for a period of fifteen years.
This state became the biggest borrower
Karnataka will be the largest borrower in this auction, raising Rs 10,000 crore through fresh shares and rescheduling of existing shares. These include rescheduling of Karnataka SGS 2033 with 7.31 per cent interest rate, Karnataka SGS 2034 with 7.38 per cent interest rate and Karnataka SGS 2037 with 7.48 per cent interest rate along with other shares with tenors of 10 years six months and 14 years.
- Kerala, which plans to raise Rs 1,000 crore through securitization for a period of 23 years.
- Madhya Pradesh, which will borrow Rs 5,800 crore through securities with tenors of 10, 14 and 21 years.
- Smaller issues include Rs 120 crore by Mizoram for a tenor of 15 years and Rs 250 crore by Sikkim for a tenor of 10 years.
- Punjab will raise Rs 2,000 crore through re-issue of 7.62 per cent Punjab SGS 2032 issued in November 2022.
- Tamil Nadu plans to raise Rs 8,000 crore through a combination of fresh issuance and re-issue of securities, including 7.23 per cent Tamil Nadu SGS 2033 and 7.63 per cent Tamil Nadu SGS 2056.
- Additionally, Tripura will raise Rs 800 crore by issuing securities for a period of 15 years.
- Uttar Pradesh will raise Rs 3,500 crore by reissuing securities maturing in 2037, 2041 and 2046.
- West Bengal plans to borrow Rs 3,500 crore through securities with tenures of 18 and 22 years.
Know the complete time table here
The RBI said both competitive and non-competitive bids for the auction will be submitted electronically on the e-Kuber system between 10:30 am and 11:30 am on March 10. The timing for non-competitive bids will be from 10:30 to 11:00 am.
The results of the auction will be announced on March 10, while the payment to successful bidders will have to be made during banking hours on March 11, 2026. According to RBI, 10 per cent of the total amount of each security will be reserved for non-competitive bidders and retail investors can also participate through the RBI Retail Direct portal.
