Debt Management

The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year December 07, 2025 to June 06, 2026 shall be 6.52 per cent per annum. It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. December 07, 2025) of 182 Day T-Bills, plus a fixed spread of One per cent.

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 334 (ii) Amount 65,371.890 III. Cut-off price / Yield 99.93 (YTM: 6.4881%)

6.48% GS 2035 I. Notified Amount ₹32,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 99.93 /6.4881% III. Amount accepted in the auction ₹32,000 crore IV. Devolvement on Primary Dealers NIL

In the underwriting auction conducted on December 05, 2025, 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:

Government of India has announced the sale (re-issue) of Government Security, as detailed below, through auction to be held on December 05, 2025 (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

 In terms of GOI notification F.No.4(25)-(W&M)/2017 dated October 06, 2017 (SGB 2017-18 Series-X-Issue date December 04, 2017) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of issue of the Gold Bonds.

Auction Results 91-Day 182-Day 364-Day I. Notified Amount 7,000 6,000 6,000 II. Competitive Bids Received (i) Number 137 106 117 (ii) Amount 35,277.500 27,139.000 21,691.000 III. Cut-off price / Yield 98.6842 97.3174 94.7600 (YTM: 5.3480%) (YTM: 5.5282%) (YTM: 5.5450%) IV. Competitive Bids Accepted

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified   ₹7,000 Crore   ₹6,000 Crore   ₹6,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6842 (YTM:5.3480%) 97.3174 (YTM: 5.5282%) 94.7600 (YTM: 5.5450%) IV. Total Face Value Accepted   ₹7,000 Crore