Twelve Indian states will collectively raise ₹39,541 crore through state government securities auctions on March 27, 2026. Conducted by the Reserve Bank of India (RBI), the auctions will include both fresh issuances and re-issues, offering tenors ranging from 5 to 30 years.
India’s bond market is set for a major infusion as multiple states tap investors for long-term funding. The RBI has announced that the auctions will be conducted via its E-Kuber platform, with competitive and non-competitive bids accepted within specified time slots.
Auction Details
The RBI press release confirms that states including Assam, Gujarat, Haryana, Kerala, Madhya Pradesh, Rajasthan, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand, and West Bengal will participate. The aggregate borrowing target stands at ₹39,541 crore, with Tamil Nadu and West Bengal leading with multiple re-issues of long-dated securities.
Key Highlights
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Total borrowing: ₹39,541 crore across 12 states
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Auction date: March 27, 2026 via RBI’s E-Kuber system
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Tenors range: 5 to 30 years
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Mix of fresh issuances and re-issues of existing bonds
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Non-competitive bids allowed via RBI Retail Direct portal
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Results to be announced on March 27, with settlement on March 30
Market Significance
These auctions provide states with crucial funding for infrastructure and development while offering investors long-term, SLR-eligible securities. The inclusion of re-issues ensures liquidity and continuity in the bond market.
Source: Reserve Bank of India Press Release