States raise ₹23,016 crore at about 7.8% to 8.2% on October 19
Eleven states got ₹23,016 crore of the ₹24,400 crore they sought. Andhra Pradesh accepted nothing and Punjab only part.
Official title: Result of Yield/Price Based Auction of State Government Securities · Press Release 2026-2027/1350
What happened
Result of the October 19, 2026 state bond auction: states raised ₹23,016 crore of the ₹24,400 crore they offered. Most yields were between 8.0% and 8.2%. Maharashtra raised the full ₹8,000 crore, at 7.98% on a 2034 bond, 8.14% for 15 years, 8.17% on a 2044 bond and 8.18% on a 2054 bond.
Madhya Pradesh paid 7.77% for four years and up to 8.24% for a bond due in 2048. Rajasthan paid 8.04% for 10 years and 8.23% for 16 years. Telangana paid about 8.15% to 8.19%.
Andhra Pradesh accepted no bids for its 2051 bond, and Punjab took ₹316 crore of the ₹700 crore it sought in its 2035 bond. The release does not say why.
What it means for you
These bonds pay roughly 8% a year and can be bought via RBI Retail Direct. There is no direct effect on most people.
What it means for businesses
State borrowing costs stay above 8% for most long bonds.
Read the original
Press release on rbi.org.in ↗ Official PDF ↗
This explainer simplifies the official text. If anything here differs from the RBI's release, the release is right.