RBI sells Rs 28,000 crore in government bonds at auction

The Reserve Bank of India (RBI) on Friday (12 September) completed the auction of two government securities, raising Rs 28,000 crore in line with the notified amount. The 6.01% GS 2030 bond attracted bids worth Rs 41,029 crore against the notified Rs 15,000 crore, with Rs 14,992 crore accepted. The cut-off yield was set at 6.29%, while the weighted average yield stood at 6.27%. For the 7.24% GS 2055 bond, bids worth Rs 54,217 crore were received against the notified Rs 13,000 crore, with Rs 12,922 crore accepted. The cut-off yield came in at 7.24% and the weighted average yield at 7.23%. Non-competitive bids worth Rs 7.68 crore in the 6.01% GS 2030 and Rs 77.87 crore in the 7.24% GS 2055 were fully accepted. There was no devolvement on primary dealers, with underwriting fully subscribed.