Debt Management

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹26,815 Crore (Face Value) Sr. No. State Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Assam 1000 12 Yield 2. Bihar 1500 18 Yield 1500 25 Yield 3. Chhattisgarh 1000 10 Yield 1000 11 Yield 4. Haryana 1000 13 Yield

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (₹ crore) Auction Date Settlement Date 1 91-Day 9,000 January 14, 2026 (Wednesday) January 16, 2026 (Friday) 2 182-Day 12,000 3 364-Day 8,000 Total 29,000

Auction Results 6.68% GS 2040 6.90% GS 2065 I. Notified Amount 16,000 13,000 II. Competitive Bids Received (i) Number 343 184 (ii) Amount 43,917.800 31,225.000 III. Cut-off price / Yield 96.23 93.18 (YTM: 7.1007%) (YTM: 7.4365%) IV. Competitive Bids Accepted (i) Number 120 67 (ii) Amount 15,987.323 12,994.830 V. Partial Allotment Percentage of Competitive Bids 19.8502% 82.8839%

6.68% GS 2040 6.90% GS 2065 Notified Amount ₹16,000 crore ₹13,000 crore Cut off Price (₹) / Implicit Yield at cut-off 96.23 / 7.1007% 93.18 / 7.4365%

In the underwriting auction conducted on January 09, 2026, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auction to be held on January 09, 2026 (Friday). As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under: (₹ crore) Securities Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction 6.68% GS 2040 16,000 381 381 6.90% GS 2065 13,000 310 310

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 9,000 12,000 8,000 II. Competitive Bids Received (i) Number 113 120 97 (ii) Amount 25,700.740 35,577.900 21,668.000

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6932 (YTM:5.3110%) 97.3132 (YTM: 5.5371%) 94.7280 (YTM: 5.5807%) IV. Total Face Value Accepted ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore

The result of the auction of State Government Securities held on January 06, 2026, is as under: (Amount in ₹ Crore) ANDHRA PRADESH SGS 2036 ANDHRA PRADESH SGS 2040 ANDHRA PRADESH SGS 2042 ANDHRA PRADESH SGS 2044 Notified Amount 1000 1000 1000 1000 Tenor 10 -Years 14 -Years 16 -Years 18 -Years Competitive Bids Received (i) No. 94 121 73 73

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Andhra Pradesh 1000 1000 7.53 10 1000 1000 7.64 14 1000 1000 7.61 16 1000 1000 7.60 18

Reserve Bank of India has entered into an Agreement under sub-section (1) of Section 21A of the Reserve Bank of India Act, 1934 with the Government of National Capital Territory of Delhi (GNCTD). Under the agreement, which shall be effective from January 09, 2026, the Reserve Bank of India shall carry on the general banking business of GNCTD and manage its rupee public debt.

Government of India (GoI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹29,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 6.68% GS 2040 Jul 07, 2040 16,000 F.No.4(1)-B(W&M)/2025 dated January 05, 2026 January 09, 2026 (Friday) January 12, 2026 (Monday) 2 6.90% GS 2065 Apr 15, 2065 13,000 Total 29,000 2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹30,100 Crore (Face Value) Sr. No. State/ UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Andhra Pradesh 1000 10 Yield 1000 14 Yield 1000 16 Yield 1000 18 Yield 1000 19 Yield 1500 21 Yield 2. Assam 1000 10 Yield 3. Chhattisgarh 1000 09 Yield 1000 20 Yield 4. Jammu and Kashmir 600 12 Yield

The Reserve Bank of India, in consultation with the State Governments/Union Territories (UTs), announces that the quantum of total market borrowings by the State Governments/UTs for the quarter January – March 2026, is expected to be ₹4,99,821 Crore. The weekly schedule of auctions to be held during the quarter along with the name of States/UTs who have confirmed participation and tentative amounts indicated by them is as under:

In terms of GOI notification F.No.4(4)-B(W&M)/2020 dated October 09, 2020 (SGB 2020-21 Series-IX-Issue date January 05, 2021) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the due date of premature redemption of the above tranche shall be on January 05, 2026.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (₹ crore) Auction Date Settlement Date 1 91-Day 9,000 January 07, 2026 (Wednesday) January 08, 2026 (Thursday) 2 182-Day 12,000 3 364-Day 8,000 Total 29,000 The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025, issued by Government of India, as amended from time to time. State Governments, Union Territories with legislature, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard can participate

Auction Results 6.48% GS 2035 I. Notified Amount 32,000 II. Competitive Bids Received (i) Number 395 (ii) Amount 66,542.700 III. Cut-off price / Yield 99.03 (YTM: 6.6147%) IV. Competitive Bids Accepted (i) Number 225 (ii) Amount 31,995.984

6.48% GS 2035 I. Notified Amount ₹32,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 99.03/6.6147% III. Amount accepted in the auction ₹32,000 crore IV. Devolvement on Primary Dealers NIL

In the underwriting auction conducted on January 02, 2026, for Additional Competitive Underwriting (ACU) of the undernoted Government security, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below: Nomenclature of the Security Notified Amount (₹crore) Minimum Underwriting Commitment (MUC) Amount (₹crore) Additional Competitive Underwriting Amount Accepted (₹crore) Total Amount underwritten (₹crore) ACU Commission Cut-off rate (Paise per ₹100) 6.48% GS 2035 32,000 16,002 15,998 32,000 0.64

In terms of Para 13 (ii) of Government of India Notification F.No.4(10)- B(W&M)/2020 dated June 26, 2020 on Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T), the coupon/interest rate of the bond would be reset half yearly, starting with January 01, 2021 and the coupon/interest rate will be set at a spread of (+) 35 bps over the prevailing National Savings Certificate (NSC) rate.