The government raised Rs 28,000 crore through the sale of two dated securities — the 6.68% GS 2040 and the 6.90% GS 2065 — in the latest weekly auction conducted by the Reserve Bank of India.
For the 6.68% GS 2040, the notified amount was Rs 16,000 crore. The cut-off price stood at 98.68, translating into a yield of 6.82%. Competitive bids worth Rs 46,598 crore were received, of which Rs 15,986 crore were accepted. The weighted average yield was 6.82%.
For the 6.90% GS 2065, the government accepted Rs 11,984 crore against bids totaling Rs 39,166 crore. The cut-off price was 96.53, implying a yield of 7.17%. The weighted average yield stood at 7.16%.
Non-competitive bids of Rs 14.14 crore for the 2040 paper and Rs 15.79 crore for the 2065 paper were fully accepted. There was no devolvement on primary dealers in either issue.