By Our Reporter
SHILLONG, Sep 10: The Meghalaya government has auctioned securities worth Rs 3,736 crore through the Reserve Bank of India (RBI) on 16 occasions since 2021.
According to the RBI’s official website, a Government Security (G-Sec) is a tradable instrument issued by the central or state governments, acknowledging the government’s debt obligation. These securities can be short-term (treasury bills with original maturities of less than a year) or long-term (government bonds or dated securities with an original maturity of a year or more). In India, the central government issues both treasury bills and bonds, while state governments issue only bonds or dated securities, known as State Development Loans (SDLs). G-Secs carry practically no risk of default and are therefore considered risk-free gilt-edged instruments.
Records show that the Meghalaya government offered to auction 10-year state government securities worth Rs 300 crore (face value) on August 5, 2025, through a yield-based auction under a multiple-price format conducted on the RBI’s core banking platform, E-Kuber. Earlier, on April 3, 2025, securities worth Rs 350 crore were also auctioned.
In 2024, auctions included securities worth Rs 100 crore on April 2, Rs 400 crore on June 28, and Rs 150 crore on September 3. In 2023, the government offered to auction nine-year securities worth Rs 150 crore on May 30, Rs 350 crore on June 27, Rs 170 crore on November 21, and Rs 172 crore on December 19.
In 2022, the government reissued securities of 7.19% Meghalaya SDL 2041 worth Rs 200 crore on January 11. It also auctioned 10-year securities worth Rs 80 crore on March 22, and three-year securities worth Rs 300 crore on October 25.
In 2021, securities worth Rs 200 crore and Rs 58 crore were auctioned on April 15 and March 16, respectively. On September 7, the government auctioned three-year and 20-year securities worth Rs 200 crore. Later, on December 10, it offered to auction securities worth Rs 328 crore, reissuing 6.82% Meghalaya SDLs 2031 for Rs 100 crore, 7.02% Meghalaya SDL 2041 for Rs 100 crore, and 4.95% Meghalaya SDL 2024 for Rs 128 crore.