Document Title, Issuing Authority, Reference, Date
Auction of Government of India Dated Securities
Issuing Authority: Reserve Bank of India, Department of Communication
Reference: Press Release 2026-2027/1354
Date: October 19, 2026\
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Capital Markets and Flows
The Government of India announced the re‑issue of two dated securities for a total notified amount of ₹33,000 crore. The first security is a 6.53% GS 2031 with a repayment date of September 7, 2031 and a notified amount of ₹19,000 crore (Notification F.No.4(1)-B(W&M)/2026). The second security is a 7.71% GS 2066 maturing on May 18, 2066 with a notified amount of ₹14,000 crore (dated October 19, 2026). The Government retains an option to accept additional subscriptions of up to ₹2,000 crore against each security.\
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The auction will be conducted on October 23, 2026 (Friday) using the RBI’s Core Banking Solution (e‑Kuber system) and will follow a multiple‑price method. Competitive bids must be submitted between 10:30 a.m. and 11:30 a.m., while non‑competitive bids are limited to the window 10:30 a.m. to 11:00 a.m.. Results will be announced on the same day, and payment by successful bidders is required on October 26, 2026 (Monday). Primary dealers may submit bids for the Additional Competitive Underwriting (ACU) portion between 09:00 a.m. and 09:30 a.m. on the auction day.\
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The securities will be eligible for "When Issued" trading from October 21, 2026 to October 23, 2026. Minimum bid size is ₹10,000 (nominal) and thereafter in multiples of ₹10,000. Up to 5% of the notified amount for each security will be allotted under the Non‑Competitive Bidding Facility to eligible individuals and institutions, with bids placed through the Retail Direct portal. Each bank or Primary Dealer will submit a single consolidated non‑competitive bid on behalf of its constituents. Allocation in the non‑competitive segment will be at the weighted‑average rate of the successful competitive bids.\
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Regulatory and Policy Measures
The auction is governed by the specific notification referenced above and the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025. Bids must be submitted electronically; physical bids are only accepted in extraordinary circumstances such as system failure, with detailed contact information provided for submission and technical assistance. Investors may submit multiple competitive bids, provided the aggregate does not exceed the notified amount. The RBI reserves full discretion to accept or reject any bids, wholly or partially, without assigning reasons.\
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Successful bidders will receive securities credited to a Subsidiary General Ledger (SGL) or Constituents' SGL (CSGL) maintained with the RBI. Interest on the securities will generally be paid half‑yearly, with exact coupon dates specified in the specific notification. Underwriting by Primary Dealers will follow the Revised Scheme of Underwriting Commitment and Liquidity Support (circular RBI/2007-08/186 dated November 14, 2007, as amended). The securities will be eligible for repurchase (repo) transactions under the Master Direction on Repurchase Transactions (2025) and for "When Issued" trading as per RBI circular No. RBI/2018-19/25 dated July 24, 2018. Investments by non‑residents are subject to the Fully Accessible Route guidelines.\
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The press release is signed by Ajit Prasad (Communications), Deputy General Manager.