Document title: Underwriting Auction for sale of Government Securities for ₹33,000 crore on October 23, 2026
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/1366
Date: October 22, 2026
Capital Markets and Flows
The Government of India has announced the re‑issue of a total of ₹33,000 crore of Government Securities through an underwriting auction to be held on 23 October 2026 (Friday). Two securities are being offered: a 6.53% Government Security maturing in 2031 with a notified amount of ₹19,000 crore, and a 7.71% Government Security maturing in 2066 with a notified amount of ₹14,000 crore. The auction will be conducted using a multiple price‑based method. Primary dealers (PDs) are required to submit their bids for the Additional Competitive Underwriting (ACU) auction electronically via the RBI’s Core Banking Solution (e‑Kuber) between 09:00 A.M. and 09:30 A.M. on the day of the underwriting auction. The underwriting commission earned by each PD will be credited to its current account with the RBI on the day the securities are issued.
Regulatory and Policy Measures
The underwriting auction operates under the underwriting commitment scheme notified on 14 November 2007. Under this scheme, each Primary Dealer must meet a Minimum Underwriting Commitment (MUC) and a minimum bidding commitment under the ACU auction. For the 6.53% GS 2031 issue, the MUC and ACU minimum bidding commitment per PD are set at ₹453 crore each. For the 7.71% GS 2066 issue, the respective amounts are ₹334 crore per PD. These commitments ensure adequate underwriting coverage and market participation.
The RBI has communicated these details through Press Release 2026‑2027/1366, signed by Deputy General Manager Ajit Prasad of the Communications division.
In summary, the RBI is facilitating a large‑scale re‑issuance of government debt, specifying clear underwriting commitments for primary dealers and outlining the electronic bidding process and commission settlement mechanisms.