Debt Management

In terms of GOI notification F.No.4(7)-B(W&M)/2019 dated May 30, 2019 (SGB 2019-20 Series-III-Issue date August 14, 2019) 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 

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auction to be held on February 13, 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:

In terms of GOI notification F.No.4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series-VI-Issue date February 12, 2019) 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 next due date of premature redemption of the above tranche shall be on February 12, 2026.

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 14,000 12,000 8,000 II. Competitive Bids Received (i) Number 134 128 132 (ii) Amount 39,803.600 56,961.600 40,566.000 III. Cut-off price / Yield 98.6910 97.3033 94.7018 (YTM: 5.3200%) (YTM: 5.5581%) (YTM: 5.6100%) IV. Competitive Bids Accepted (i) Number 68 16 20

T-Bill 91-Day 182-Day 364-Day I. Total Face Value Notified ₹14,000 Crore ₹12,000 Crore ₹8,000 Crore II. Cut-off Price and Implicit Yield at Cut-Off Price 98.6910 (YTM:5.3200%) 97.3033 (YTM: 5.5581%) 94.7018 (YTM: 5.6100%) III. Total Face Value Accepted ₹14,000 Crore ₹12,000 Crore ₹8,000 Crore

In terms of GOI notification F.No.4(7)-B(W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series-IX-Issue date February 11, 2020) and in terms of GOI notification F.No.4(4)-B(W&M)/2020 dated April 13, 2020 (SGB 2020-21 Series-V-Issue date August 11, 2020) 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 tranches shall be on February 11, 2026.

The result of the auction of State Government Securities held on February 10, 2026, is as under: (Amount in ₹ Crore) ASSAM SGS 2046 BIHAR SGS 2039 BIHAR SGS 2052 CHHATTISGARH SGS 2035 Notified Amount 1000 1500 1500 1000 Tenor 20 -Years 13 -Years 26 -Years Re-issue of 7.49% CHHATTISGARH SGS 2035 issued on 27-MAR-2024

Sr. No. State Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Assam 1000 1000 7.87 20 2. Bihar 1500 1500 7.86 13 1500 1500 7.77 26 3. Chhattisgarh 1000 1000 99.52/7.5617 Re-issue of 7.49% Chhattisgarh SGS 2035, issued on March 27, 2024 1000 1000 7.59 10

Government of India (GoI) has announced the sale (issue / re-issue) of two dated securities for a notified amount of ₹31,000 crore as per the following details:

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹48,615 Crore (Face Value). Sr. No. State Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenor (Year) Type of Auction 1. Assam 1000 - 20 Yield 2. Bihar 1500 - 13 Yield 1500 - 26 Yield

In terms of GOI notification F.No.4(4)-B(W&M)/2020 dated October 09, 2020 (SGB 2020-21 Series-XI-Issue date February 09, 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 February 09, 2026.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

(Amount in ₹ Crore) Auction Results 6.68% GS 2040 6.90% GS 2065 I. Notified Amount 16,000 13,000 II. Competitive Bids Received (i) Number 264 156 (ii) Amount 40,282.000 24,335.000 III. Cut-off price / Yield 95.67 92.53 (YTM: 7.1658%) (YTM: 7.4917%) IV. Competitive Bids Accepted (i) Number 118 113 (ii) Amount 15,976.010 12,975.876

6.68% GS 2040 6.90% GS 2065 I. Notified Amount ₹16,000 crore ₹13,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 95.67/7.1658% 92.53/7.4917% III. Amount accepted in the auction ₹16,000 crore ₹13,000 crore IV. Devolvement on Primary Dealers NIL NIL

In the underwriting auction conducted on February 06, 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 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) 6.68% GS 2040 16,000 8,001 7,999 16,000 0.80 6.90% GS 2065 13,000 6,510 6,490 13,000 0.92

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auction to be held on February 06, 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 119 110 140 (ii) Amount 30,827.905 51,285.000 36,735.000 III. Cut-off price / Yield 98.6850 97.2848 94.6683 (YTM: 5.3447%) (YTM: 5.5973%) (YTM: 5.6475%) IV. Competitive Bids Accepted

T-Bill 91-Day 182-Day 364-Day I. Total Face Value Notified ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore II. Cut-off Price and Implicit Yield at Cut-Off Price 98.6850 (YTM:5.3447%) 97.2848 (YTM: 5.5973%) 94.6683 (YTM: 5.6475%) III. Total Face Value Accepted ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Andhra Pradesh 1000 1000 99.60/7.5418 Re-issue of 7.48% Andhra Pradesh SGS 2035, issued on January 28, 2026 1200 1200 7.68 13 1100 1100 7.71 15 2. Assam 1000 1000 7.68 15 3. Chhattisgarh 1000 1000 97.72/7.5406 Re-issue of 7.19% Chhattisgarh SGS 2035, issued on February 27, 2025 1000 1000 7.75 16 4. Gujarat* 1000 1500 7.17 06 5. Haryana 1000 1000 7.69 15

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹36,500 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenor (Year) Type of Auction 1. Andhra Pradesh 1000 - Re-issue of 7.48% Andhra Pradesh SGS 2035, issued on January 28, 2026 Price 1200 - 13 Yield 1100 - 15 Yield 2. Assam 1000 - 15 Yield

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

(Amount in ₹ Crore) Auction Results 6.48% GS 2035 I. Notified Amount 32,000 II. Competitive Bids Received (i) Number 394 (ii) Amount 75,494.200 III. Cut-off price / Yield 98.28 (YTM: 6.7229%)

6.48% GS 2035 I. Notified Amount ₹32,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 98.28 / 6.7229% III. Amount accepted in the auction ₹32,000 crore IV. Devolvement on Primary Dealers NIL

In the underwriting auction conducted on January 30, 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 0.75 Auction for the sale of security will be held on January 30, 2026.

Government of India has announced the sale (re-issue) of Government Security, as detailed below, through auction to be held on January 30, 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) Security Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction 6.48% GS 2035 32,000 762 762

(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 104 79 102 (ii) Amount 23,280.460 35,406.780 24,003.000 III. Cut-off price / Yield 98.6474 97.2461 94.5865 (YTM: 5.4997%) (YTM: 5.6793%) (YTM: 5.7391%) IV. Competitive Bids Accepted

T-Bill 91-Day 182-Day 364-Day I. Total Face Value Notified ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore II. Cut-off Price and Implicit Yield at Cut-Off Price 98.6474 (YTM:5.4997%) 97.2461 (YTM: 5.6793%) 94.5865 (YTM: 5.7391%) III. 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 27, 2026 is as under: (Amount in ₹ Crore) ANDHRA PRADESH SGS 2035 ANDHRA PRADESH SGS 2043 ASSAM SGS 2036 BIHAR SGS 2040 Notified Amount 1000 1500 1000 1500 Tenor 9 -Years 17 -Years 10 -Years 14 -Years Competitive Bids Received (i) No. 62 63 49 128

Sr. No. State Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Andhra Pradesh 1000 1000 7.48 09 1500 1500 7.59 17 2. Assam 1000 1000 7.59 10 3. Bihar 1500 1500 7.63 14 1500 1500 7.60 24 4. Gujarat 2000 2000 7.47 10 5. Haryana 1000 1000 7.57 14 6. Karnataka 2000 2000 7.15 05 year and 06 months 2000 2000 99.88/7.3407 Re-issue of 7.32% Karnataka SGS 2033, issued on January 21,2026

Government of India (GoI) has announced the sale (re-issue) of one dated security for a notified amount of ₹32,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 6.48% GS 2035 October 06, 2035 32,000 F.No.4(1)-B(W&M)/2025 dated January 23, 2026 January 30, 2026 (Friday) February 02, 2026 (Monday)

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 28, 2026 (Wednesday) January 29, 2026 (Thursday) 2 182-Day 12,000 3 364-Day 8,000 Total 29,000

(Amount in ₹ Crore) Auction Results New GS 2029 New GS 2033 7.24% GS 2055 I. Notified Amount 9,000 11,000 13,000 II. Competitive Bids Received (i) Number 78 159 204 (ii) Amount 19,105.000 37,986.000 38,051.000 III. Cut-off price / Yield 100.00 100.00 97.78 (YTM: 6.0300%) (YTM: 6.6800%) (YTM: 7.4259%) IV. Competitive Bids Accepted

In the underwriting auction conducted on January 23, 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 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) New GS 2029 9,000 4,515 4,485 9,000 0.25 New GS 2033 11,000 5,502 5,498 11,000 0.49 7.24% GS 2055 13,000 6,510 6,490 13,000 0.84 Auction for the sale of securities will be held on January 23, 2026.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹39,800 Crore (Face Value)

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auction to be held on January 23, 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

In terms of GOI notification F.No.4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series-V-Issue date January 22, 2019) 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 next due date of premature redemption of the above tranche shall be on January 22, 2026.

(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    76    81    94 (ii) Amount    17,439.745    29,587.500    23,200.120 III.    Cut-off price / Yield    98.6500    97.2539    94.6035 (YTM: 5.4889%)    (YTM: 5.6628%)    (YTM: 5.7200%) 

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 98.6500 (YTM:5.4889%) 97.2539 (YTM: 5.6628%) 94.6035 (YTM: 5.7200%)

In terms of GOI notification F.No.4(7)-B(W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series-VIII-Issue date January 21, 2020) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue

The result of the auction of State Government Securities held on January 20, 2026, is as under: (Amount in ₹ Crore) ASSAM SGS 2046 JAMMU AND KASHMIR UT SGS 2041 KARNATAKA SGS 2032 KARNATAKA SGS 2033 Notified Amount 1000 500 2000 2000 Tenor 20 -Years 15 -Years Re-issue of 7.25% KARNATAKA SGS 2032 issued on 14-JAN-2026 7 -Years 6 -Months Competitive Bids Received (i) No. 95 94 47 65

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Assam 1000 1000 7.62 20 2. Jammu and Kashmir 500 500 7.62 15 3. Karnataka 2000 2000 100.21/7.2084 Re-issue of 7.25% Karnataka SGS 2032, issued on January 14, 2026 2000 2000 7.32 07 year and 06 months

Government of India (GoI) has announced the sale (issue / re-issue) of three dated securities for a notified amount of ₹33,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 New GS 2029 Jan 27, 2029 9,000 F.No.4(1)-B(W&M)/2025 dated January 19, 2026 January 23, 2026 (Friday) January 27, 2026 (Tuesday)

In terms of GOI notification F.No.4(4)-B(W&M)/2020 dated October 09, 2020 (SGB 2020-21 Series-X-Issue date January 19, 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 next due date of premature redemption of the above tranche shall be on January 19, 2026.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹13,000 Crore (Face Value) Sr. No. State/UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Assam 1000 20 Yield 2. Jammu and Kashmir 500 15 Yield 3. Karnataka 2000 Re-issue of 7.25% Karnataka SGS 2032, issued on January 14, 2026 Price 2000 07 year and 06 months Yield 2000 11 year and 06 months Yield

(Amount in ₹ Crore) Auction Results    6.01% GS 2030    New GS 2076 I.    Notified Amount 18,000    13,000 II.    Competitive Bids Received    (i) Number 255    134 (ii) Amount    54,460.227    37,390.000 

6.01% GS 2030 New GS 2076 I. Notified Amount ₹18,000 crore ₹13,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 98.21 /6.4743% 7.43% III. Amount accepted in the auction ₹18,000 crore ₹13,000 crore IV. Devolvement on Primary Dealers NIL NIL

In the underwriting auction conducted on January 16, 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 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) 6.01% GS 2030 18,000 9,009 8,991 18,000 0.60

In terms of GOI notification F.No.4(7)-B(W&M)/2019 dated May 30, 2019 (SGB 2019-20 Series-II-Issue date July 16, 2019) 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 next due date of premature redemption of the above tranche shall be on January 16, 2026.

Auction Results 91-Day 182-Day 364-Day I. Notified Amount 9,000 12,000 8,000 II. Competitive Bids Received (i) Number 94 74 108 (ii) Amount 21,370.400 27,752.650 27,107.700 III. Cut-off price / Yield 98.6850 97.2853 94.6859 (YTM: 5.3447%) (YTM: 5.5962%) (YTM: 5.6278%) IV. Competitive Bids Accepted (i) Number 47 53 71 (ii) Amount 8,977.354 11,991.699 7,772.370 V.

T-Bill 91-Day 182-Day 364-Day Total Face Value Notified ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore Cut-off Price and Implicit Yield at Cut-Off Price 98.6850 (YTM:5.3447%) 97.2853 (YTM: 5.5962%) 94.6859 (YTM: 5.6278%)