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States to Borrow Rs 18,159 Crore via RBI Auction on April 7

The Reserve Bank of India will conduct an auction for State Government Securities on April 7, 2026, enabling multiple states to collectively raise Rs 18,159 crore. Major borrowers include Maharashtra (Rs 3,600 crore), Telangana (Rs 3,900 crore), and Andhra Pradesh (Rs 2,200 crore). The auction will be held on the RBI's E-Kuber platform, accepting both competitive and non-competitive electronic bids, with individual investors able to participate via the Retail Direct portal. Successful bidders must make payments on April 8, 2026, following the announcement of the auction results.

Key Points: RBI SGS Auction: States to Borrow Rs 18,159 Crore

  • Multi-state borrowing of Rs 18,159 crore
  • Auction scheduled for April 7, 2026
  • Maharashtra seeks largest share at Rs 3,600 crore
  • Bids via RBI's E-Kuber platform
2 min read

Multiple states to borrow Rs 18,159 crore through RBI SGS auction on April 7

Multiple Indian states to raise Rs 18,159 crore via RBI's State Government Securities auction on April 7, 2026. Details on state-wise borrowing.

"Both competitive and non-competitive bids... should be submitted... on the Reserve Bank of India Core Banking Solution (E-Kuber) system - RBI Release"

New Delhi, April 4

The Reserve Bank of India has announced that multiple state governments will raise a total of Rs 18,159 crore through the auction of State Government Securities, scheduled to be conducted on April 7, 2026.

According to the Central Bank release, the securities will be issued through an auction conducted on the RBI's Core Banking Solution platform, E-Kuber. The auction will include borrowings by several states, with varying tenors and structures, including both fresh issuances and re-issues of existing securities.

Among the participating states, Andhra Pradesh plans to raise Rs 2,200 crore through two securities with tenors of 12 and 25 years. Himachal Pradesh will raise Rs 900 crore with a 10-year tenor, while Maharashtra will borrow Rs 3,600 crore through three securities worth Rs 800, 1,600 and 1,200 with tenors of 5, 13 and 23 years, respectively. Meghalaya will raise Rs 259 crore via a 10-year security.

Punjab intends to raise Rs 1,500 crore through security with a tenor of ten years. Rajasthan will issue three securities worth Rs 3,600 crore through a mix of fresh securities and re-issues. These include re-issuance of 7.33 per cent Rajasthan SGS 2031, issued on March 25, 2026. Meanwhile, Telangana will borrow Rs 3900 crore through 2 securities worth Rs 2,000 and Rs 1,900 with a tenor of 17 years and 30 years each.

"Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on April 07, 2026 (Tuesday)," the release said.

Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal

The results of the auction will be announced on April 07, 2026 (Tuesday), and payment by successful bidders will be made during banking hours on April 08, 2026 (Wednesday).

- ANI

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Reader Comments

P
Priyanka N
Good to see the Retail Direct portal mentioned! More awareness needs to be created so common people like us can also invest in these government securities. It's a safe option compared to volatile markets. 👍
A
Aman W
₹18,159 crore is a huge amount! While borrowing is necessary for development, I hope there is strict oversight on how this money is spent. We've seen cases of funds being misallocated. Transparency is key.
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Sarah B
The tenors are fascinating – ranging from 5 years all the way to 30 years for Telangana. A 30-year bond is a very long-term commitment. It signals big, long-gestation projects. Wonder what they're planning.
V
Vikram M
As someone from Andhra, I hope the ₹2,200 crore raised by our state is put to good use for the new capital development and irrigation projects. Public debt is okay if it leads to tangible assets for future generations.
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Karthik V
The process seems efficient with the E-Kuber platform. RBI is doing a good job modernizing government borrowing. However, I respectfully think the communication of such auctions could be more public-friendly. The jargon is heavy for the average citizen.

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