India's RBI auctions 18,159 crore of State Government securities
Change
India's RBI has scheduled an electronic auction on April 07, 2026 to sell State Government securities totaling 18,159 crore across multiple tenors and reserved up to 10% of each stock for non-competitive bids including Retail Direct participants.
Why it matters
The auction requires all bids to be submitted electronically through the RBI Core Banking Solution (E-Kuber), narrowing how and when market participants can place orders. Participants must also arrange settlement the next banking day at Mumbai or the Reserve Bank of India regional offices, imposing a firm post-auction payment obligation.
Implications
- • Competitive bidders must submit electronic competitive bids between 10:30 A.M. and 11:30 A.M. on April 07, 2026 or risk exclusion from the auction process.
- • Non-competitive bidders, including individual investors using the Retail Direct portal, must submit non-competitive bids between 10:30 A.M. and 11:00 A.M. on April 07, 2026 to access the up-to-10% reserved allocation for each stock.
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