Document title: Underwriting Auction for sale of Government Security for ₹34,000 crore on July 03, 2026
Issuing authority: Reserve Bank of India
Reference number: 2026-2027/591
Date: July 02, 2026
Capital Markets and Flows
The Government of India has announced the re‑issue of a 6.94% Government Security maturing in 2036, with a total issue size of ₹34,000 crore. The securities will be sold through an underwriting auction on 3 July 2026 (Friday) using a multiple price‑based method. Under the underwriting scheme notified on 14 November 2007, each Primary Dealer (PD) is required to provide a Minimum Underwriting Commitment (MUC) of ₹810 crore and an identical minimum bidding commitment under the Additional Competitive Underwriting (ACU) auction.
Bids for the ACU component must be submitted electronically via the Reserve Bank of India’s Core Banking Solution (e‑Kuber system) between 09:00 A.M. and 09:30 A.M. on the auction day. The underwriting commission earned by the PDs will be credited to their current accounts with the RBI on the date the security is issued.
Regulatory and Policy Measures
The auction is conducted under the extant underwriting commitment scheme originally notified on 14 November 2007. The scheme specifies the MUC and the minimum bidding commitment per PD, and mandates electronic bid submission through the e‑Kuber platform. The crediting of underwriting commissions to PDs’ RBI accounts on the issue date is also stipulated in the scheme.
The announcement, issued as Press Release 2026‑2027/591 by Deputy General Manager Ajit Prasad (Communications), outlines the procedural and financial parameters governing the auction, ensuring transparency and adherence to the established underwriting framework.
This auction reflects the Government’s continued reliance on primary dealers for large‑scale borrowing and the RBI’s use of electronic systems to streamline the underwriting process.