Debt Management

The Reserve Bank of India (RBI) has, by an order dated November 11, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Mettupalayam Co-operative Urban Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms /concerns in which they are interested’ and ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹25,000 crore (face value). The security-wise details of the conversion/switch are given as under:

In terms of GOI Notification F. No.4(25)-(W&M)/2017 dated October 06, 2017 (SGB 2017-18 Series-VII-Issue date November 13, 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. Accordingly, the final redemption date of the above tranche shall be November 13, 2025.

In terms of GOI notification F.No.4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series-III-Issue date November 13, 2018) 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 November 13, 2025.

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 7,000 6,000 6,000 II. Competitive Bids Received (i) Number 141 96 121 (ii) Amount 39,518.200 23,168.300 22,890.000 III. Cut-off price / Yield 98.6640 97.2969 94.7377

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 98.6640 (YTM:5.4312%) 97.2969 (YTM: 5.5717%) 94.7377 (YTM: 5.5699%)

The result of the auction of State Government Securities held on November 11, 2025, is as under: (Amount in ₹ Crore)

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Bihar 1500 1500 7.44 15 2. Chhattisgarh 500 500 100.52/6.3876 Re-issue of 6.59% Chhattisgarh SDL 2028, issued on October 06, 2021 1000 1000 99.98/7.1408 Re-issue of 7.14% Chhattisgarh SGS 2033, issued on February 12, 2025

Government of India (GoI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹28,000 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 November 10, 2025 November 14, 2025 (Friday) November 17, 2025 (Monday) 2 6.90% GS 2065 Apr 15, 2065 12,000 Total 28,000

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹16,560 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Bihar 1500 15 Yield 2. Chhattisgarh 500 Re-issue of 6.59% Chhattisgarh SDL 2028, issued on October 06, 2021 Price 1000 Re-issue of 7.14% Chhattisgarh SGS 2033, issued on February 12, 2025 Price