Capital Markets and Flows
The Government of India is re‑issuing two dated securities for a total notified amount of ₹28,000 crore. The first security is a 7.06 % Government Security maturing on 27 July 2041 with a notified amount of ₹17,000 crore (Notification F.No.4(1)-B(W&M)/2026 dated). The second security is a 7.43 % Government Security maturing on 19 January 2076 with a notified amount of ₹11,000 crore (Notification dated 10 September 2026). The auction will be conducted by the RBI Mumbai Office on 18 September 2026 (Friday) using a multiple‑price method, with results announced the same day and settlement on 21 September 2026 (Monday). The securities will be eligible for "When Issued" trading from 15 September 2026 to 18 September 2026 and will be eligible for repurchase (repo) transactions as per the RBI Master Direction on Repo.
Regulatory and Policy Measures
The auction will accept both competitive and non‑competitive bids through the RBI Core Banking Solution (e‑Kuber system). Non‑competitive bids must be submitted between 10:30 a.m. and 11:00 a.m., while competitive bids are accepted between 10:30 a.m. and 11:30 a.m. on the auction date. Minimum bid size is ₹10,000 (nominal) and thereafter in multiples of ₹10,000. The Government may retain an additional subscription of up to ₹2,000 crore for each security. Up to 5 % of the notified amount for each security will be allotted under the non‑competitive segment to eligible individuals and institutions via the Scheme for Non‑Competitive Bidding Facility; retail investors may also bid through the Retail Direct portal.
Investors may submit multiple competitive bids, provided the aggregate does not exceed the notified amount. The RBI reserves the right to accept or reject any bid, wholly or partially, without assigning a reason. Successful bids will be allotted at the quoted yield/price (multiple‑price auction) and securities will be credited to the Subsidiary General Ledger Account (SGL) or Constituents' SGL maintained with the RBI. Interest on the securities will generally be paid half‑yearly, with exact coupon dates specified in the specific notification.
Underwriting of the securities will be carried out by Primary Dealers in accordance with the RBI’s Revised Scheme of Underwriting Commitment and Liquidity Support (circular RBI/2007‑08/186 dated 14 November 2007, as amended). The securities are also eligible for investment by non‑residents under the Fully Accessible Route guidelines.
In the event of an IT failure, physical bids may be submitted to the Public Debt Office, Mumbai via the prescribed form, with contact details provided for technical assistance (email bids@rbi.org.in, phone 022‑22603456/57/90) and for auction‑related issues (email auctionidmd@rbi.org.in, phone 022‑22702431/51).