The Reserve Bank of India said Primary Dealers underwrote the full notified amount of the 6.94% Government Security 2036 through minimum and additional competitive commitments.
BKK Bureau, New Delhi | 17 October 2026 | 11:57 PM IST
The Reserve Bank of India has set the cut-off rate for the underwriting commission payable to Primary Dealers for the 6.94% Government Security 2036 at 0.38 paise per ₹100. The decision followed an Additional Competitive Underwriting auction conducted on October 16, 2026, according to an RBI press release.
The government security had a notified amount of ₹34,000 crore. The RBI’s table shows that the total amount underwritten was also ₹34,000 crore, matching the full notified amount specified for the security.
Underwriting commitments were divided into two components. The Minimum Underwriting Commitment amounted to ₹17,010 crore, while the amount accepted through Additional Competitive Underwriting was ₹16,990 crore. Together, these two amounts added up to the total underwriting amount of ₹34,000 crore.
Commission cut-off fixed by RBI
The 0.38-paise cut-off rate is the commission rate identified by the RBI for the underwriting arrangement. The release specifies that this commission is payable to Primary Dealers. It does not identify the individual dealers that participated in the auction or provide a dealer-wise allocation.
The result relates specifically to the 6.94% GS 2036. The security’s name indicates the coupon rate and the year shown for the instrument, while the RBI’s announcement separately records the notified amount and underwriting figures. The release does not provide additional details on the yield, investor demand or the final allotment terms of the security sale.
Sale auction date
The RBI release also states that the auction for the sale of the security will be held on October 16, 2026. The same release records the underwriting auction as having been conducted on that date. The announcement therefore sets out the underwriting result and the scheduled date for the associated sale auction without providing a separate sale-auction outcome.
Under the figures published by the central bank, the full notified amount was covered by underwriting commitments. The MUC accounted for slightly more than half of the total, at ₹17,010 crore, while the additional competitive component accounted for ₹16,990 crore. These amounts are reported in the RBI’s official auction table.
The announcement was issued by the RBI’s Communications Department and carries the press release number 2026-2027/1338. It was published on October 16, 2026. The release is limited to the underwriting auction result and does not state the government’s borrowing cost, the identities of Primary Dealers or the outcome of the security-sale auction.
Why it matters
The RBI’s announcement establishes the commission cut-off for Primary Dealers and confirms that underwriting commitments covered the entire ₹34,000-crore notified amount of the 6.94% GS 2036. The information provides an official record of the underwriting structure ahead of the stated security-sale auction date.
Source: Reserve Bank of India
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