The Reserve Bank of India has announced a state government securities auction worth ₹24,800 crore on July 14, 2026. Nine state governments will participate in this sale, offering stock across multiple tenors. The auction will run on RBI’s E-Kuber platform, making it accessible to a wide range of bidders.
State Government Securities Auction: Key Details
Maharashtra leads the issuance with multiple re-issues totalling ₹11,600 crore across six securities. Andhra Pradesh follows with ₹3,800 crore, covering new and re-issued stock. Additionally, Telangana offers ₹2,500 crore, while Gujarat raises ₹2,000 crore across 9-year and 12-year tenors.
Other participating states include Punjab (₹2,000 crore), Tamil Nadu (₹2,000 crore), and Rajasthan (₹1,500 crore). Meanwhile, Meghalaya and Mizoram offer smaller amounts of ₹300 crore and ₹100 crore respectively. Therefore, this auction reflects broad borrowing activity across India’s states.
Competitive bids must be submitted between 10:30 AM and 11:30 AM. Non-competitive bids, however, close earlier at 11:00 AM. Both bid types must be submitted electronically via E-Kuber on July 14, 2026 (Tuesday).
What This Means for Investors and Banks
Individual investors can participate through RBI’s Retail Direct portal at rbiretaildirect.org.in. Up to 10% of each stock’s notified amount is reserved for non-competitive bidders. As a result, retail participation in this state government securities auction remains straightforward and open.
For banks, these securities qualify as eligible investments under the Statutory Liquidity Ratio (SLR) provisions of Section 24 of the Banking Regulation Act, 1949. They also qualify for the ready forward facility. This makes them attractive instruments for institutional portfolios.
The RBI will announce auction results on July 14, 2026. Successful bidders must make payment during banking hours on July 15, 2026 (Wednesday) at Mumbai or respective RBI regional offices. Stock will be issued in minimum denominations of ₹10,000 and in multiples thereof.
Interest on new stock will be paid half-yearly on January 15 and July 15 each year. For re-issued securities, interest rates remain as set on the original issue date. All stocks are governed by the Government Securities Act, 2006 and the Government Securities Regulations, 2007.
Source: RBI Press Releases
