The Reserve Bank of India (RBI) will auction Government of India dated securities worth Rs 32,000 crore on Friday as part of the government’s market borrowing programme.
The auction will comprise the re-issue of two existing government bonds. These include:
- Rs 21,000 crore of the 6.36 percent Government Security (GS) 2031, maturing on February 16, 2031
- Rs 11,000 crore of the 7.71 percent Government Security (GS) 2066, maturing on May 18, 2066
The government also retains the option to accept an additional subscription of up to Rs 2,000 crore for each security.
Auction Schedule
The auction will be conducted by the RBI’s Mumbai Office using the multiple price method.
Bids must be submitted electronically through the RBI’s e-Kuber Core Banking Solution.
The bidding schedule is as follows:
- Non-competitive bids: 10:30 a.m. to 11:00 a.m.
- Competitive bids: 10:30 a.m. to 11:30 a.m.
The auction results will be announced on the same day, while successful bidders will make payments on Monday, July 13, 2026.
Primary Dealers can submit bids for the Additional Competitive Underwriting portion between 9:00 a.m. and 9:30 a.m. on July 10.
Retail Investors Can Participate
The minimum bid amount has been fixed at Rs 10,000, with bids accepted in multiples of Rs 10,000 thereafter. Up to 5 percent of the notified amount for each security has been reserved for eligible investors under the non-competitive bidding segment.
Retail investors can participate directly through the RBI Retail Direct platform. Under the non-competitive route, allotments will be made at the weighted average yield or price determined through successful competitive bids.
Trading and Investment Guidelines
The securities will be available for “When Issued” trading between July 7 and July 10.
They will also be eligible for repo transactions in accordance with RBI guidelines.
Interest on the securities will generally be paid on a half-yearly basis, as specified in the respective bond notifications.
The auction is being conducted under the general notification issued on March 26, 2025.
Investments by non-resident investors will be governed by the Fully Accessible Route (FAR) guidelines.
The RBI also stated that it reserves the right to accept or reject any or all bids, either wholly or partially, without assigning any reason.
