Document title: Underwriting Auction for Sale of Government Securities for ₹32,000 crore on July 10, 2026
Issuing authority: Reserve Bank of India
Reference number: 2026-2027/631
Date: July 10, 2026
Capital Markets and Flows
The Government of India has announced a re‑issue of government securities amounting to ₹32,000 crore, to be conducted through an underwriting auction on July 10, 2026 (Friday). Two issues are offered: a 6.36% 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. Under the underwriting commitment scheme notified on 14 November 2007, each Primary Dealer (PD) must meet a Minimum Underwriting Commitment (MUC) of ₹500 crore for the 6.36% issue and ₹262 crore for the 7.71% issue, which also serve as the minimum bidding commitment under the Additional Competitive Underwriting (ACU) auction. Bids for the ACU auction are to be submitted electronically via the RBI Core Banking Solution (e‑Kuber) 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 day the securities are issued.
Regulatory and Policy Measures
The auction will be conducted using a multiple price‑based method as per the existing underwriting framework. The scheme, originally notified on 14 November 2007, defines the MUC and ACU commitments for each PD and outlines the electronic bidding process. The crediting of underwriting commissions to PDs’ RBI accounts on the issue date reflects the regulatory procedure for settlement of underwriting fees.
The auction represents a routine fiscal market operation aimed at refinancing government debt and providing liquidity to the primary dealer network.