RBI Announces Auction of Government of India Securities Worth ₹32,000 Crore

The Reserve Bank of India will conduct an auction of Government of India dated securities aggregating to ₹32,000 crore on Friday. The auction will involve the re-issue of two government securities with different maturity periods.

As per the announced details, the auction will include ₹21,000 crore of 6.36% Government Security 2031, maturing on February 16, 2031, and ₹11,000 crore of 7.71% Government Security 2066, maturing on May 18, 2066. The Government of India will also have the option to retain additional subscription of up to ₹2,000 crore against each of the notified securities.

The auction will be conducted by the RBI Mumbai Office through the multiple price-based auction method. Bids must be submitted electronically through the RBI’s Core Banking Solution platform, e-Kuber.

Non-competitive bids will be accepted from 10:30 a.m. to 11:00 a.m., while competitive bids can be submitted between 10:30 a.m. and 11:30 a.m. The auction results will be declared on the same day. Successful bidders will be required to make payment on Monday, July 13, 2026.

Primary Dealers intending to participate in the Additional Competitive Underwriting portion can submit their bids between 9:00 a.m. and 9:30 a.m. on July 10, 2026.

The minimum bid amount for the auction has been fixed at ₹10,000, and bids must be placed in multiples of ₹10,000 thereafter. Up to 5% of the notified amount of each security will be reserved under the non-competitive bidding facility for eligible individuals and institutions. Retail investors may also participate through the RBI Retail Direct portal.

Allotment under the non-competitive bidding segment will be made at the weighted average yield or price determined in the successful competitive bids.

The securities will be eligible for “When Issued” trading from July 7 to July 10, 2026. They will also be eligible for repurchase transactions, subject to applicable RBI guidelines. Interest on the government securities will generally be payable on a half-yearly basis, as specified in the respective notification.

The auction is being conducted under the general notification dated March 26, 2025. Investments by non-residents will be governed by the Fully Accessible Route guidelines. The RBI has stated that it reserves the right to accept or reject any bid, either fully or partially, without assigning any reason. CA Sansaar