Document title: Underwriting Auction for Sale of Government Securities ₹32,000 crore
Issuing authority: Reserve Bank of India – Department of Communication
Reference number: Press Release 2026‑2027/1029
Date: 03 September 2026
Capital Markets and Flows
The Government of India announced the sale (issue/re‑issue) of government securities amounting to ₹32,000 crore through an underwriting auction scheduled for 4 September 2026 (Friday). Two securities are being offered: a new Government Security maturing in 2031 with a notified amount of ₹21,000 crore, and a 7.71% Government Security maturing in 2066 with a notified amount of ₹11,000 crore. The auction will be conducted using a multiple price‑based method. Under the underwriting commitment scheme notified on 14 November 2007, each Primary Dealer (PD) is required to maintain a Minimum Underwriting Commitment (MUC) and a minimum bidding commitment under the Additional Competitive Underwriting (ACU) auction. The MUC and ACU commitments are set at ₹500 crore per PD for the New GS 2031 and ₹262 crore per PD for the 7.71% GS 2066. Primary dealers may submit their ACU bids electronically via the RBI’s Core Banking Solution (e‑Kuber system) between 09:00 A.M. and 09:30 A.M. on the day of the underwriting auction.
Regulatory and Policy Measures
The underwriting commission earned by each participating primary dealer will be credited to the dealer’s current account with the RBI on the day the securities are issued. This operational framework adheres to the underwriting commitment scheme established in 2007, which defines the minimum underwriting and bidding obligations for each primary dealer. The announcement is issued as Press Release 2026‑2027/1029 by Deputy General Manager Ajit Prasad, Communications, Department of Communication, RBI.
The RBI’s notice provides detailed procedural guidance for the September 4 underwriting auction, reinforcing the existing underwriting commitment regime and ensuring prompt credit of commissions to the accounts of participating primary dealers.