The Reserve Bank of India (RBI) accepted ₹23,016.418 crore in state government securities at its Oct. 19 auction, leaving ₹1,383.582 crore of the announced ₹24,400 crore offering unallocated.
Among the 11 state and union territory issuers, Maharashtra had the largest accepted amount at ₹8,000 crore across four securities. Madhya Pradesh had ₹4,500 crore accepted across three, followed by Rajasthan with ₹3,500 crore across three.
The RBI accepted no amount from Andhra Pradesh’s ₹1,000 crore 2051 reissue and ₹316.418 crore from Punjab’s ₹700 crore 2035 reissue. Those shortfalls account for the entire ₹1,383.582 crore gap; every other security reached its offered amount.
Madhya Pradesh’s new four-year security had a cutoff yield of 7.77%. Its separate reissue maturing in 2048 had a cutoff yield of 8.2370%.
The earlier auction schedule called for bids based on yield for new securities and price for reissues. The securities qualify as investments toward banks’ Statutory Liquidity Ratio requirements.
The RBI set Oct. 21 as the payment date, with funds due during banking hours.
