Indian state bond auction shows yields up to 7.90%, full subscription

RBI auction of state government securities (SGS) saw full acceptance across Andhra Pradesh, Goa, Gujarat, and Jammu & Kashmir, with cut-off yields ranging from 7.72% to 7.90% for tenors up to 15 years. The yields are slightly elevated compared to recent central government benchmarks, reflecting state-specific credit spreads. This indicates steady demand for state debt amid stable liquidity conditions.