Document title: Auction of Government of India Dated Securities
Issuing authority: Reserve Bank of India
Reference: Press Release: 2026-2027/1390
Date: October 26, 2026
Capital Markets and Flows
The Reserve Bank of India (RBI) announced the re‑issue of four Government of India (GoI) dated securities for a total notified amount of ₹33,000 crore. The securities are: 6.20% GS 2029 with a notified amount of ₹9,000 crore, 6.57% GS 2033 for ₹12,000 crore, 7.63% GS 2056 for ₹9,000 crore, and 7.50% GOI SGrB 2056 for ₹3,000 crore. The auction will be conducted on October 30, 2026 (Friday) using a multiple‑price method; new securities will be auctioned on a yield basis while re‑issued securities will be price‑based. Competitive bids must be submitted between 10:30 a.m. and 11:30 a.m., and non‑competitive bids between 10:30 a.m. and 11:00 a.m. on the RBI’s e‑Kuber system. Results will be announced on the same day and settlement is scheduled for November 02, 2026 (Monday).
The minimum bid size is ₹10,000 nominal and in multiples of ₹10,000 thereafter. Up to 5% of the notified amount for each security will be allotted under the Scheme for Non‑Competitive Bidding Facility, with individual investors able to place bids via the Retail Direct portal. Primary dealers may submit additional competitive underwriting (ACU) bids between 09:00 a.m. and 09:30 a.m. on the auction day. The securities will be eligible for “When Issued” trading from October 27, 2026 to October 30, 2026 and will be eligible for repurchase (repo) transactions as per the Master Direction on Repo.
Regulatory and Policy Measures
The auction will be administered by the RBI Mumbai Office under specific notification F.No.4(1)- and the General Notification F.No.4(2)‑B(W&M)/2018 dated March 26, 2025. All bids must be submitted electronically via the e‑Kuber system; physical bids will be accepted only in extraordinary circumstances such as IT system failure, with contact details provided for submission. The RBI retains full discretion to accept or reject any bids, wholly or partially, without assigning a reason, and will determine the minimum price or maximum yield based on received bids. Successful bidders will receive securities credited to their Subsidiary General Ledger (SGL) or Constituents’ SGL (CSGL) accounts. Interest on the securities will generally be paid half‑yearly, as specified in the individual security notifications. Underwriting will follow the Revised Scheme of Underwriting Commitment and Liquidity Support (circular RBI/2007‑08/186, dated November 14, 2007, as amended). Investments by non‑residents are subject to the Fully Accessible Route guidelines.
The auction framework, bid submission procedures, and eligibility criteria reflect RBI’s ongoing efforts to manage government debt issuance efficiently while providing transparent market access to a broad set of participants.