RBI Sets Underwriting Commission Rates for ₹32,000 Crore Government Securities Auction

The Reserve Bank of India (RBI) has announced the underwriting commission cut-off rates applicable to three Government of India securities offered for a combined notified amount of ₹32,000 crore.

The rates were determined through an Additional Competitive Underwriting (ACU) auction conducted on July 17, 2026. These commissions will be payable to Primary Dealers participating in the underwriting of the securities.

For the 6.03% Government Security 2029, carrying a notified amount of ₹11,000 crore, the underwriting commission cut-off was fixed at 0.44 paise per ₹100. The Minimum Underwriting Commitment (MUC) amounted to ₹5,502 crore, while ₹5,498 crore was accepted through ACU.

The commission cut-off for the 6.68% Government Security 2033 was set at 0.34 paise per ₹100. The security also had a notified amount of ₹11,000 crore, comprising an MUC of ₹5,502 crore and an accepted ACU amount of ₹5,498 crore.

For the 7.24% Government Security 2055, the RBI fixed the commission cut-off at 0.62 paise per ₹100—the highest among the three securities. Against its notified amount of ₹10,000 crore, the MUC stood at ₹5,019 crore, while ₹4,981 crore was accepted under ACU.

Overall, the three securities accounted for a Minimum Underwriting Commitment of ₹16,023 crore. The remaining ₹15,977 crore was accepted through the Additional Competitive Underwriting mechanism. CA Sansaar