India's central bank auctions ₹44,550 crore in state bonds on Feb. 24, 2026, with retail investors able to participate.

The Reserve Bank of India will conduct a state government securities auction on February 24, 2026, offering Rs 44,550 crore across 16 states, including Andhra Pradesh, Gujarat, Maharashtra, and Tamil Nadu. The auction includes fresh issuances and re-issues of bonds with maturities from three to 28 years, reflecting diverse fiscal needs. Some states will re-issue bonds at original coupon rates, while Gujarat and Maharashtra may use green-shoe options for extra borrowing. Bids will be accepted via the E-Kuber platform, with competitive bids from 10:30 a.m. to 11:30 a.m. and non-competitive bids until 11:00 a.m. Retail investors can participate through the RBI Retail Direct portal, with up to 10% of each issue reserved for non-competitive bids, capped at 1% per bid. The cut-off yield will be set by the RBI. Securities, issued in Rs 10,000 denominations, pay interest semi-annually on August 25 and February 25, qualify for SLR, and are eligible for the ready forward facility.