Capital markets and flows

The Government of India has announced the sale of four dated securities for a total notified amount of ₹32,000 crore. The securities are:

  • New GS 2029 – repayment on 17 Aug 2029, notified amount ₹11,000 crore.
  • New GS 2033 – repayment on 17 Aug 2033, notified amount ₹11,000 crore.
  • 7.24% GS 2055 – repayment on 18 Aug 2055, notified amount ₹5,000 crore.
  • 7.50% GOI SGrB 2056 – repayment on 27 Apr 2056, notified amount ₹5,000 crore.

The GoI retains an option to accept additional subscription up to ₹2,000 crore against each security.

The auction will be conducted by the RBI Mumbai Office using a multiple‑price method. Bids must be submitted electronically on the RBI Core Banking Solution (e‑Kuber) on 14 August 2026 (Friday). Non‑competitive bids are to be entered between 10:30 a.m. and 11:00 a.m., while competitive bids may be entered between 10:30 a.m. and 11:30 a.m.. Results will be announced on the same day and payment by successful bidders is required on 17 August 2026 (Monday).

The auction is yield‑based for the new securities and price‑based for re‑issued securities. For floating‑rate bonds, the auction will be spread‑based for new issues and price‑based for re‑issues. Minimum bid size is ₹10,000 (nominal) and thereafter in multiples of ₹10,000.

Regulatory and policy measures

The securities will be eligible for When‑Issued trading from 11 August 2026 to 14 August 2026. Under the Non‑competitive Bidding Facility, up to 5 % of the notified amount of each security may be allotted to eligible individuals and institutions. Individual investors may place bids via the Retail Direct portal, while banks or Primary Dealers submit a consolidated non‑competitive bid on behalf of their constituents.

Allotment under the non‑competitive segment will be at the weighted‑average rate of the successful competitive bids.

The underwriting of the securities will be undertaken by Primary Dealers in accordance with the Revised Scheme of Underwriting Commitment and Liquidity Support (circular RBI/2007‑08/186 dated 14 Nov 2007, as amended).

The securities are eligible for Repurchase Transactions (Repo) as per the Master Direction – RBI Repo Directions, 2025, and for When‑Issued trading per RBI circular No. RBI/2018‑19/25 dated 24 July 2018.

Investments by non‑residents are subject to the Fully Accessible Route guidelines for foreign investment in government securities.

In the event of an IT failure, physical bids may be submitted to the Public Debt Office, Mumbai, using prescribed forms available on the RBI website. Contact details for technical and auction‑related assistance are provided in the notice.

The RBI reserves full discretion to accept or reject any bids, wholly or partially, without assigning reasons. Successful bids will result in issuance of securities credited to the Subsidiary General Ledger (SGL) or Constituents’ SGL accounts maintained with the RBI. Interest on the securities will generally be paid half‑yearly, except where non‑standard maturities apply, as specified in the specific notification.